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Banks Julius Baer and Seb Bank AG have launched a service for storing and trading cryptocurrencies

Banks Julius Baer and Seb Bank AG have launched a service for storing and trading cryptocurrencies

Swiss Bank Julius Baer, together with the regulated cryptocurrency Bank Seba Bank AG, introduced a service for trading and storing crypto assets.

Julius Baer said that he has been working with Seba since February last year, but the launch of the platform on the blockchain was supposed to take place only after Seba received permission to perform operations with securities and a banking license from the Swiss financial market Supervisory authority (FINMA), which happened in August.

Recently, Julius Baer announced his readiness to enter the cryptocurrency industry, specifying that he uses the Seba platform and capabilities for this purpose. Now Julius Baer offers its Swiss clients secure storage of digital assets, solutions for cryptocurrency transactions, as well as a General analysis of the portfolio of traditional and digital assets. At the same time, the Bank added that it can support the main cryptocurrencies, depending on their liquidity, security and resistance to technical errors, but did not say which digital assets it started working with.

In autumn, the head of the research and investment division of Julius Baer, Christian Gattiker-Ericsson, said that cryptocurrencies are still at the stage of “natural selection”, and for the successful implementation of cryptocurrencies, they must have the same level of trust as Fiat currencies.