LGT Group to add Bitcoin and Ether trading and custodial services
LGT Bank’s BTC and ETH investment services will initially be available to selected client groups of LGT Bank, Liechtenstein.
Wed, 04 May 2022, 16:11 pm UTC
With the increasing popularity of crypto, financial institutions are starting to offer crypto-related services to meet the rising demand from their clients. The largest family-owned private banking and asset management group in the world based in Liechtenstein is joining the trend and announced that it will soon be offering custody and trading services for Bitcoin (BTC) and Ether (ETH).
LGT Group will soon be launching Bitcoin (BTC) and Ethereum (ETH) investment services, according to a blog post by SEBA Bank. Originally known as The Liechtenstein Global Trust, the LGT Group is the largest family-owned private banking and asset management group in the world with over CHF 280 billion (US$292 billion) in assets under management (AUM).
Like other financial institutions that decided to move into crypto, LGT Group’s decision is due to client demand. “The demand for cryptocurrencies has also increased among our clients in recent years,” Roland Matt, CEO of LGT Bank, Liechtenstein, said. “We are very pleased that we can now offer our client easy access to these asset class.”
To make it happen, LGT has partnered with Swiss cryptocurrency bank Seba. Seba Bank is known as a highly successful and trusted counterparty in the digital assets industry and supports a wide range of digital assets investment services.
“When developing our new offering, we paid particular attention to security while focusing on clear, reliable processes and procedures,” Matt added. “They are central for dealing with this dynamic and still quite young asset class. Thanks to our cooperation with SEBA Bank, our clients' digital assets are held in the custody of a professional and certified provider with extensive experience in this area.”
LGT Bank assures that the upcoming investment services for BTC and ETH will be fully integrated with traditional assets. This means that clients will be able to seamlessly add crypto assets into their existing investment portfolios.
However, the Bitcoin and Ether trading and custodial services won’t be available to all LGT Group clients upon launch. “LGT Bank’s digital asset investment solutions will initially be available to selected client groups of LGT Bank, Liechtenstein,” the post added. “Clients must be domiciled in Liechtenstein or Switzerland and be classified as professional clients or be managed by an external asset manager in order to access services.”
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