Banks Julius Baer and Seba Bank AG launched a service for storage and trading of cryptocurrencies

Swiss bank Julius Baer, together with regulated cryptocurrency bank Seba Bank AG, introduced a service for trading and storing crypto assets.

Julius Baer said that he has been cooperating with Seba since February last year, but the launch of the platform on the blockchain was to take place only after Seba received permission to conduct securities transactions and a banking license from the Swiss financial market supervision authority (FINMA), what happened in august.

The other day, Julius Baer announced his readiness to enter the cryptocurrency industry, specifying that he uses the platform and capabilities of Seba for this. Now Julius Baer offers its customers in Switzerland the safe storage of digital assets, solutions for transactions with cryptocurrencies, as well as a general analysis of the portfolio of traditional and digital assets. At the same time, the bank added that it can support the main cryptocurrencies, depending on their liquidity, security and resistance to technical errors, but did not say which digital assets it began to work with.

In autumn, the head of the research and investment division of Julius Baer Christian Gattiker-Ericsson stated that cryptocurrencies are still at the “natural selection” stage, and for the successful implementation of cryptocurrencies, they should have the same level of trust as the fiat ones currencies.