Private bank LGT Bank will launch custody and trading services for Bitcoin and Ethereum. Support is planned for additional cryptocurrency investment products to be rolled out in response to customer requests. SEBA Bank's fully regulated, an institutional-grade custodial solution will be used to provide safe and convenient custody of client assets.
SEBA Bank, a fully integrated digital asset banking platform licensed by FINMA, and LGT Bank, an international financial services provider specializing in private banking and asset management to provide digital asset custody and brokerage services, have announced their collaboration.
LGT Bank is part of the LGT Group, a leading international private banking and asset management group with over CHF 280 billion in assets under management. LGT Bank uses SEBA Bank's fully regulated banking platform and institutional-grade digital asset custody capabilities to launch digital asset custody and trading services for clients.
LGT Bank will initially offer investment services for Bitcoin (BTC) and Ethereum (ETH). Digital asset investment services will be fully integrated with traditional assets, allowing clients to seamlessly include cryptocurrencies in their existing portfolios.
Franz Bergmüller, CEO at SEBA Bank, said, “As a licensed and FINMA regulated Swiss bank with a core competence in cryptocurrencies and digital assets, we enable banks and their clients to handle traditional and digital assets securely. We have the knowledge, established processes, and above all, a custody solution that is ISAE 3402 certified and established by independent bodies. The range of services combined with the highest security standards makes SEBA Bank's service offering unique and we are very pleased to be able to support LGT with our expertise in expanding its services around Digital Assets.”
“The demand for cryptocurrencies has also increased among our clients in recent years,” says Roland Matt, CEO of LGT Bank, Liechtenstein. “We are very pleased that we can now offer our client easy access to these asset class. When developing our new offering, we paid particular attention to security while focusing on clear, reliable processes and procedures. They are central for dealing with this dynamic and still quite young asset class. Thanks to our cooperation with SEBA Bank, our clients' digital assets are held in the custody of a professional and certified provider with extensive experience in this area.”
LGT Bank's digital asset investment solutions will initially be available to select customer groups of LGT Bank, Liechtenstein. Clients must reside in Liechtenstein or Switzerland and be classified as professional clients or be managed by an external asset manager in order to access the services.
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Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.