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Swiss banking giant Julius Baer launches digital asset services

Image: Julius Baer (Via Twitter)

Tue, 28 Jan 2020, 04:09 am UTC

Switzerland-based private banking giant Julius Baer announced in a press release that it just launched digital asset services.

This is facilitated through a partnership with SEBA Bank, a FINMA-licensed crypto bank. Julius Baer is currently offering its clients booked in Switzerland a range of digital asset services using SEBA’s innovative and cutting-edge platform and capabilities.

“Julius Baer has extended its service range and as of now includes digital assets offerings such as secure storage and transaction solutions, but also consolidated portfolio overviews across both conventional and digital assets. The Bank is able to offer access to a select group of cryptocurrencies, chosen for their tradability, safety, and technical reliability,” the announcement read.

Julius Baer is focused on wealth management. It started as a local family business and has gone into an international reference in private banking. Headquartered in Zurich, Julius Baer is present in over 25 countries and more than 60 locations. At the end of October 2019, assets under management amounted to CHF 422 billion.

Back in February 2019, the bank announced its plan to collaborate with SEBA Crypto AG. The partnership became official after SEBA received the FINMA banking and securities dealer license.

“We are very proud to have Julius Baer as an investor. SEBA will enable easy and safe access to the crypto world in a fully regulated environment. The cooperation between SEBA and Julius Baer will undoubtedly create value for the mutual benefit and to the clients,” said Guido Buehler, CEO of SEBA.

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