One of the largest banks in Switzerland will begin to provide cryptocurrency services

Swiss banking giant Julius Baer announced a partnership with cryptocurrency startup SEBA Crypto AG, in which the bank’s customers will be provided with services related to cryptocurrency.

The Julius Baer website reports that the SEBA project, founded in April 2018, is a pioneer in the financial industry, creating a technological bridge between the world of traditional and digital assets.

Julius Baer is going to use the SEBA innovative platform to provide Julius Baer customers with advanced digital asset solutions to meet growing demand. In particular, clients will be presented solutions for the storage, transactions and investments of cryptocurrencies.

The partnership will take effect after SEBA obtains a license for banks and securities dealers at the Swiss Financial Markets Authority (FINMA). The application was sent last summer, and SEBA plans to begin operations in the second quarter of 2019.

Also last year, Julius Baer acquired a share in SEBA, the size of which was not disclosed.

“We are convinced that digital assets will become the legal class of sustainable assets in an investor’s portfolio. Investing in SEBA, as well as our strong partnership, is proof of Julius Baer’s involvement in digital assets and our commitment to making innovations accessible to our customers, ”said Peter Gerlach, Julius Baer, ​​Head of Markets and an alleged member of the SEBA Board of Directors.

Julius Baer is one of Switzerland’s oldest and largest banks. Under its management is 400 billion Swiss francs (about $ 400 billion).

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