Julius Baer enters crypto arena with SEBA stake
Private banking group Julius Baer has teamed up with Switzerland-based SEBA Crypto as it looks for a share of the digital asset sector.
“We are convinced that digital assets will become a legitimate sustainable asset class of an investor’s portfolio”
As reported in September 2018, SEBA secured CHF 100 million ($102.7 million) in funding to build a regulated bank bridging the crypto and traditional financial economies.
Following last year’s early-stage minority equity investment, Julius Baer has now agreed on this collaboration.
Peter Gerlach, head markets at Julius Baer and proposed member to the board of directors of SEBA, says: “At Julius Baer, we are convinced that digital assets will become a legitimate sustainable asset class of an investor’s portfolio.”
The firm will use SEBA’s platform and capabilities to provide its clients with solutions in the area of digital assets.
Through this partnership, which will come into effect upon the granting of the Swiss Financial Market Supervisory Authority (FINMA) banking and securities dealer licence to SEBA, Julius Baer plans to extend its service range providing storage, transaction and investment solutions for digital assets.
