Julius Baer, one of the biggest banks in Switzerland, will enter a partnership with Swiss cryptocurrency banking startup SEBA, Julius Baer announced. The bank is going to launch new digital asset services later this year. With the use of SEBA platform, Julius Baer customers will be able to store, trade and invest in digital assets.
“At Julius Baer, we are convinced that digital assets will become a legitimate sustainable asset class of an investor’s portfolio,” said Peter Gerlach, Head Markets at Julius Baer and proposed member to the Board of Directors of SEBA.
However, in order for the partnership to come into effect, the startup needs to get a banking and securities dealer licence from the Swiss Financial Market Supervisory Authority.