A Major Swiss private investment bank, Julius Baer, just announced it will now offer cryptocurrency options to its clients. In an official statement, Julius Baer, one of the biggest private banks in Switzerland, announced that the company is providing its clients access to cryptocurrencies.
The statement opens with:
“In combination with an equity investment in SEBA Crypto AG (SEBA), Julius Baer is pleased to announce the collaboration with SEBA to provide its clients with access to a range of new digital asset services.”
Julius Baer joins the Institutional adoption of crypto
In recent months, some of the largest financial institutions in the global market in the likes of Fidelity, Nasdaq, and ICE have begun to strengthen the infrastructure supporting cryptocurrencies.
Julius Baer is the fourth major financial conglomerate to enter the crypto market after Fidelity, Nasdaq, and ICE in 2019, a move that could intensify the rapid growth of awareness of crypto assets.
The company stated that it will utilize the innovative platform of SEBA to provide its clients access to cryptocurrencies and said the firm intends to meet “increasing demand” for digital assets.
The partnership has been finalized and the institutions are awaiting the granting of the FINMA banking and securities dealer license, which is set to occur in the short-term.
Peter Gerlach, Head Markets at Julius Baer said:
“At Julius Baer, we are convinced that digital assets 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.”
SEBA CEO Guido Buehler disclosed that Julius Baer has invested in SEBA and the deal will strengthen the relationship of the two companies.
“We are very proud to have Julius Baer as an investor. SEBA will enable easy and safe access to the crypto world in a fully regulated environment. The cooperation between SEBA and Julius Baer will undoubtedly create value for the mutual benefit and to the clients,”
In September, the launch of SEBA was highly anticipated by investors in the cryptocurrency community given the involvement of high-profile individuals in the Swiss financial sector and private banks like Julius Baer.
The deal with Julius Baer is expected to lead to an increase in the number of financial institutions working with SEBA in the months to come as a way to integrate cryptocurrencies.
SEBA chairman Andreas Amschwand said at the time:
“In Switzerland we have commitment from various authorities to establish a comprehensive regulatory environment for the development of blockchain technology and the sustainable, stable growth of crypto assets,”
The future for institutional crypto assets
Switzerland is been a leading nation in cryptocurrency adoption and development alongside Japan, Singapore, U.S.A, South Korea and Malta.
Cryptocurrency services offered by Julius Baer will further strengthen the asset class to both existing investors in the cryptocurrency market and investors in the traditional financial sector.
The commitment of major financial institutions to crypto comes during a period in which the 15-month bear market of digital assets is nearing its bottom.
There has been a huge increase in institutional participation in the crypto markets in the last few months. All the major players must now realise that the end of the bear market is close. They must also realise this is the best time to prepare their infrastructure in anticipation of the next bull-run.