Julius Baer Launches Crypto Storage, Investment Offerings
- The new digital assets offering comes thanks to a partnership between Julius Baer and SEBA Crypto AG.
- The bank now provides secure storage and transaction solutions, as well as consolidated portfolio overviews across both conventional and digital assets.
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Swiss private bank Julius Baer now provides its clients with access to various solutions for digital asset storage and transactions, the bank said in a press release on 21 January.
According to the announcement, the new digital assets offering aims to provide access to various solutions for digital asset storage and transactions, in order to meet increasing demand the bank’s clients. Julius Baer did not disclose which digital assets it will provide services for, but did state that the assets were chosen based on their tradability, safety, and technical reliability.
The bank now offers secure storage and transaction solutions, as well as consolidated portfolio overviews across both conventional and digital assets. The new services are the result of the bank’s partnership with SEBA Bank AG, a crypto-focused bank in Switzerland.
SEBA was able to obtain a securities dealer and banking license from the Swiss Financial Market Supervisory Authority (FINMA) in August 2019, the same day as fellow Swiss digital asset bank Sygnum. The company offers both crypto-crypto and crypto-fiat conversion services, as well as enterprise accounts to blockchain firms and their employees.
It also provides its customers with access to its SEBAwallet app, e-banking services and SEBA card facilities, which support Bitcoin (BTC), Ethereum (ETH), Stellar (XLM), Litecoin (LTC) and Ethereum Classic (ETC).
- Coinbase has informed its customers that it will no longer provide support for Signature Bank’s Signet real-time payments network.
- The crypto exchange is now looking for an alternative payments network provider, while waiting for more clarity on the outcome of Signet.
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- NYDFS took possession of Signature in order to protect the economy and strengthen the confidence in the banking system, and assured customers that all deposits will be returned.
- The price of USDC also started to recover after its issuer, Circle, revealed that all stablecoin reserves held at Silicon Valley Bank (SVB) were safe, and that the company had new banking partners.
- Both crypto exchange Coinbase and stablecoin issuer Paxos have stated that they will no longer accept or initiate U.S. dollar payments through Silvergate Bank.
- The two noted that cash transactions for institutional clients will now be carried out through their other banking partners, and that the move had no impact on pound and euro payments.