Swiss bank Julius Baer To Add Cryptocurrency Services
Julius Baer, a banking company in Switzerland, announced the addition of digital currency services as part of a joint project with the crypto company in the field of banking, SEBA Crypto AG, according to the bank’s official website.
In the summer of 2018, SEBA Crypto submitted an application for the relevant licenses from the Financial Market Supervision Authority in Switzerland (FINMA). Presumably, permits from the regulator will be received in the second quarter of 2019, and after that Julius Baer plans to expand the range of services, including solutions for transferring and saving funds.
According to Peter Gerlach, the representative of Julius Baer, the bank believes in the future of cryptos, which will become a stable investment tool. The partnership with SEBA Crypto allows the bank to provide innovative technologies to customers. SEBA CEO Guido Buehler added that his company will provide easy and secure access to cryptocurrencies for bank users in a regulated environment.
It is reported that the meeting of the company's shareholders is scheduled for March 20, during which participants will decide on the appointment of Gerlach as one of the board members. In 2018, Julius Baer became the owner of the shares in SEBA Crypto, but the size of the investment is not reported.
As previously reported, the Swiss bank Falcon Private added a service of savings and direct transactions for bitcoin, ether, Litecoin, and Bitcoin Cash.