Swiss bank Julius Baer will start working with cryptocurrency

The Swiss bank Julius Baer has begun collaborating with cryptocurrency startup SEBA Crypto AG, and will use its platform to provide its clients with services related to storage, transfers and investment in digital assets in 2019..

The agreement will enter into force immediately after SEBA receives permission from the financial regulator to carry out banking activities and trade in securities. The startup filed a corresponding application back in June 2018 and intends to start providing crypto banking services from the second quarter of this year..

Despite the fact that last fall SEBA raised $ 104 million in venture capital to open a regulated cryptocurrency bank, an additional ICO is planned for the third quarter of 2019. Julius Baer previously also invested in the project, but the amount of the contribution was not disclosed.

Swiss bank Julius Baer will start working with cryptocurrency

The startup’s goal is to provide traditional banking services using cryptocurrency, as well as the sale and management of digital assets. Julius Baer believes in the long-term success of virtual currencies as a legitimate asset class.

Recall that the German exchange Eurex plans to launch futures for bitcoin, ethereum, ripple.

text: Ivan Malichenko, photo: straitstimes, enca

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