The financial institution owned by the princely House of Liechtenstein LGT bank has entered into a partnership with Swiss crypto services provider SEBA Bank. The collaboration will allow LGT Bank to offer comprehensive crypto services to their clients.
Initially, LGT Bank will offer Bitcoin (BTC) and Ethereum (ETH) investing services. Digital assets will be fully integrated with traditional assets, enabling clients to seamlessly incorporate crypto into their existing portfolios.
The digital asset investment solutions will be available to selected client groups of LGT Bank, Liechtenstein. Clients must be domiciled in Liechtenstein or Switzerland, additionally, they must be classified as professional clients or be managed by an external asset manager in order to access services.
The services include trading in over 14 cryptocurrencies, a comprehensive crypto yield offering, SEBA Earn, and the SEBA Gold token, an innovative digital token backed by physical Swiss gold.
LGT Bank is part of LGT Group, the largest Private Banking and Asset Management group in the world with over CHF 280 billion assets under management. The financial firm is leveraging SEBA Bank’s fully regulated banking platform and institutional-grade digital asset custody capabilities to launch trading and digital assets custody services for clients.
Franz Bergmuller, the CEO at SEBA Bank, stated that as a licensed and FINMA-regulated Swiss bank with core competence in cryptocurrencies and digital assets, SEBA provides banks and their clients to handle digital and traditional assets securely.
Bergmuller further added that the custody solution is ISAE 3402 certified and established by independent bodies. The range of services combined with the highest security standards makes the service offering unique.
As per CEO of LGT Bank Liechtenstein Roland Matt, the demand for cryptocurrencies has increased among clients in recent years. Hence, the bank is pleased to now offer easy access to this asset class. He also said that when developing new offerings, the bank paid particular attention to security while focusing on clear, reliable processes and procedures.
Earlier this year, SEBA bank announced that it has secured a successful Series C funding round, raising CHF 110 million (Swiss franc), or $119 million U.S. dollars. The bank plans to use the funds to accelerate international growth and boost demand from institutional investors in the crypto industry. This new partnership seems like a step ahead in executing its plans.
