- Julius Baer Group has announced a partnership with the cryptocurrency startup Seba Crypto AG
- The collaboration will allow bank’s clients to use a variety of cryptocurrency-related services
- The Swiss banking giant believes that cryptocurrencies will eventually find their way to investors’ portfolios
One of the oldest and biggest Swiss banks, Julius Baer Group, has announced a partnership with the cryptocurrency startup Seba Crypto AG. This collaboration is the latest development in a series of cryptocurrency-related announcements by large financial institutions.
Connecting Financial Systems
Contrary to Julius Baer, SEBA Crypto AG is a comparatively new company founded in April 2018. Nevertheless, it is considered one of the pioneers when it comes to bringing together traditional and the digital asset worlds.
The startup, based in Zug, Switzerland, aims to develop technological and regulatory tools that will make it possible to create a bridge between cryptocurrency and traditional assets.
The Forward-Looking Collaboration
Julius Baer states that the partnership with SEBA will be beneficial for the bank in several ways. First of all, the Swiss banking giant will have access to the platforms and software solutions developed by SEBA.
What’s more, the move will allow the bank to fulfill the increasingly growing demand for solutions in the area of digital assets with plans to introduce storage, transaction and investment solutions in the near future. All in all, the partnership will allow Julius Baer to expand its range of services.
CEO of SEBA Guido Buehler stated that the company will enable easy and safe access to the crypto world in an environment with strict regulation. He said:
“The cooperation between SEBA and Julius Baer will undoubtedly create value for the mutual benefit and to the clients.”
On the Way to Adoption
According to Peter Gerlach, Head Markets at Julius Baer and proposed member to the Board of Directors of SEBA, the bank believes that cryptocurrencies will certainly find their way to investors’ portfolios in the future. He commented:
”The investment into SEBA as well as our strong partnership are proof of Julius Baer’s engagement in the area of digital assets and our dedication to make pioneering innovation available to the benefit of our clients.”
Widespread cryptocurrency is slowly but steadily gaining traction, with even recent digital asset deniers embracing crypto. The partnership between Julius Baer and SEBA Crypto AG is certainly a big leap in that direction.