One of the oldest and largest Swiss banks, Julius Baer announced that in partnership with cryptocurrency startup SEBA Crypto AG, the share of which was acquired last year, will provide clients with access to various digital assets, as well as custodial, transaction and investment decisions with them.
It is expected that new opportunities will open up in the second quarter of this year – after CryptoStream will receive Management supervision over operations of the financial market Switzerland (FINMA) license to conduct banking activities and securities dealer.
In the opinion of management, Julius Baer, digital assets will become a full and sustainable asset class for investment portfolio, and the Bank intends to continue to access its clients access to innovation.
Recall that to launch the world’s first licensed and regulated by the Swiss financial regulators: the investment kleptomanka SEBA Crypto AG in September last year by two former employees of UBS have attracted companies from Switzerland, Singapore, Malaysia and China 100 million Swiss francs ($103 million).
In December the Swiss government published the legal framework for the regulation of the cryptocurrency industry, FINMA introduced a new FINTECH-license with simplified requirements for scriptcombine.