Julius Bär to Expand Cryptoasset Offerings to Its Swiss-Based Customers

Julius Bär, the third-largest private bank in Switzerland is expanding its digital assets product offerings to its Swiss-based customers in a bid to meet their increasing demand. Also, the financial institution is collaborating with Swiss-based FINMA-licensed cryptocurrency bank, Seba Crypto AG (SEBA) to offer clients crypto custodial and trading services, reports Finance Magnates on January 23, 2019.

Julius Baer, Seba Roll Out More Crypto SoLutions

Per the report, Julius Bär and Seba Crypto AG are set to take their existing partnership to the next level by joining forces to offer their clients more crypto-focused products and services. in a bid to meet the increasing demand from its clients.

Reportedly, these services will include the provision of access to various solutions for digital asset storage and transactions, as well as a consolidated portfolio overview of both conventional and digital assets.

Also, the teams have revealed that only a select group of cryptocurrencies will be offered to investors and they will be chosen based on their tradability, technical reliability, and safety.

“Julius Bär will enter into a partnership with SEBA to take advantage of their innovative platform and capabilities in order to provide Julius Baer clients with leading-edge solutions in the area of digital assets to meet increasing demand,” Julius Bär said.

SEBA’s Unwavering Support for Bitcoin and Altcoins

SEBA first officially opened its doors to Swiss crypto investors in August 2019, after it was granted a banking license by the Swiss Financial Market Supervisory Authority (FINMA) in August 2019.

By December 2019, it had expanded to nine countries including the Netherlands, Austria, Portugal, Singapore, Italy, Germany, amongst others, and it is currently hoping to raise a $100m capital from new investors.

Julius Bär, on the other hand, revealed that it now offers its Switzerland-based clients a selection of digital assets services by using the innovative and cutting-edge platform and capabilities of SEBA.

Asides from the Swiss private bank, other financial institutions around the world are also venturing into the cryptospace.

Central banks in the Eurozone, Britain, Sweden, Japan, and Switzerland have partnered to explore the benefits of central bank digital currency (CBDC).

On January 16, 2020, BTCManager reported that Australia’s central bank, Reserve Bank of Australia (RBA) is testing an Ethereum-Based interbank settlement system.