It has been just revealed the fact that a Swiss bank is bringing crypto services to clients, which is great for adoption. Check out the latest reports about this below.
Crypto adoption boom
St. Galler Kantonalbank, one of Switzerland’s largest cantonal banks, has partnered with SEBA Bank to launch digital asset custody and brokerage services for its clients.
The bank recently announced that it is offering custody and trading services for bitcoin and ether to select clients.
Also, SGKB has informed that it plans to broaden its digital asset offerings by adding more cryptocurrencies according to client demand.
To provide these services, SGKB has collaborated with SEBA Bank, which is based in Switzerland, to offer digital asset brokerage and custody services, as noted by The Block.
“We are very pleased to be able to support St.Galler Kantonalbank with our expertise in expanding their services around digital assets,” SEBA Bank Head B2B and Custody Solutions Christian Bieri said.
“St.Galler Kantonalbank and SEBA signed the contract earlier this year, after a short implementation project, SGKB is now ready to offer access to cryptocurrencies to a selected group of clients, in a first step bitcoin and ether, other currencies will follow shortly,” Bieri told The Block.
Existing investment portfolios
SGKB boldly steps into the digital asset space with this week’s launch, in partnership with SEBA Bank.
This move will enable its clients to seamlessly integrate cryptocurrencies into their existing investment portfolios, showcasing the bank’s commitment to providing cutting-edge financial services.
“Thanks to our cooperation with SEBA Bank, we’ve implemented a straightforward initial setup, which allows us to learn and grow well aligned to our clients’ needs,” St. Galler Kantonalbank Head of Market Services Falk Kohlmann said.
SGKB is one of the 24 cantonal banks in Switzerland. These commercial institutions are partially owned by the federal government of Switzerland, and SGKB is a leading player among them.
SEBA Bank, on the other hand, has earned a banking license from Switzerland’s financial markets regulator, FINMA, and is renowned for providing digital asset services to other banking institutions.
It is also worth noting the fact that LGT Bank Liechtenstein and Julius Baer Bank are among the prominent private and retail banks that SEBA caters to.
