Swiss Private Bank Julius Baer, SEBA Crypto Partner On Cryptocurrency Services

News | February 27, 2019 By:

Swiss multinational private bank Julius Baer is collaborating with Switzerland-based startup SEBA Crypto AG to provide its clients with access to a range of new digital asset services.

Julius Baer, one of the oldest and largest Swiss banking institutions, provides investment management, real estate financing, wealth management, and select offerings in sales and trading. The firm has offices in more than 20 countries and employs a staff of over 5,300 worldwide.

Based in the Crypto Valley Zug, SEBA Crypto seeks to become the world’s first licensed and supervised universal crypto bank, offering transaction banking services for accounts denominated in both crypto and fiat, custody services, trading & liquidity management, asset & investment management, and full range of crypto corporate finance services. Last year, the startup raised $103 million to fund the development of the platform.

The partnership will allow Julius Baer to provide its clients with solutions in the area of digital assets using SEBA’s innovative platform and capabilities. Through this partnership, which will come into effect upon the granting of the FINMA banking and securities dealer license to SEBA, Julius Baer plans to extend its service range providing storage, transaction and investment solutions for digital assets.

Peter Gerlach, Head Markets at Julius Baer and proposed member to the Board of Directors of SEBA, said that they are convinced that cryptocurrencies will become a legitimate sustainable asset class of an investor’s portfolio.

“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,” Gerlach said.

Guido Buehler, CEO of SEBA, said that he expects the partnership to create value for the mutual benefit and to the clients.

“We are very proud to have Julius Baer as an investor,” Buehler said. “SEBA will enable easy and safe access to the crypto world in a fully regulated environment.”