Julius Baer Group is a Swiss private bank which offers banking services to people who live in Switzerland and the rest of Europe. The bank provides its clients with services such as investment products, real estate financing, wealth planning, foreign exchange, etc.
However, just recently the bank made a public statement stating that it will start offering its clients cryptocurrency services. The initiative will allow clients to store, invest
and trade in digital assets. This means that the Julius Baer Group has moved a step further in joining the cryptocurrency world.
As a result, the Swiss bank has become another major financial institution which seeks to join the cryptocurrency world.
So, if you want to know more about the bank’s new development, please keep reading.
Julius Baer Group offering Crypto Services
On the 26th of February 2019, crypto fanatics in Swiss woke up to hear the good news that the Swiss bank will start to provide crypto services to its customers. On its twitter handle, Julius Baer Group announced that "it will collaborate with SEBA Crypto AG to give its clients access to a range of new digital asset services."
In this line, the collaboration with SEBA will open good opportunities in different ways. For example, the Swiss bank will manage to gain access to the solutions and platforms developed by SEBA. Therefore, the collaboration will be very crucial for the crypto industry in the country as huge companies around the globe are starting to look at the cryptocurrency
However, for the partnership to become active; the startups need to get a securities and banking dealer license from the Swiss Financial Market Supervisory Authority
. In a press release; SEBA stated that their goal is to become “one of the world’s first supervised and licensed crypto banks.”
Moreover, Julius Baer Group also said that through this collaboration; the bank seeks to extend its services to clients by offering them with; “storage, transactions and investment solutions for digital assets.”
SEBA and Julius Baer Group Future
SEBA is a crypto focused bank in Switzerland that functions as a bridge between the cryptocurrency world and traditional financial institutions. With this in mind, SEBA CEO Guido Buehler said,
“We are very pleased to have Julius Baer Group as an investor. SEBA will enable safe and easy access to the cryptocurrency world in a fully regulated environment. Therefore, cooperation between Julius Baer and SEBA will undoubtedly generate value for the mutual benefit and to the consumers.
From the above statement, it is vital to say that the two companies working hand and glove will create a favorable environment for the digital currencies; hence the digital currencies will have crucial importance in the future and be part of every investor’s portfolio.
In conclusion, Switzerland has always been a leading country in the blockchain
development; therefore the partnerships between Julius Baer Group and SEBA seem to be very crucial in the crypto space.
Therefore, the introduction of crypto services in Swiss by Julius Baer in collaboration with SEBA will make the nation stronger in terms of cryptocurrency use and investment.