Swiss Bank Julius Baer to Offer Digital Asset Services

The information follows Julius Baer’s equity investment in SEBA calendar year, for that a sum was not disclosed by it.
Announcing the information Julius Baer said it has partnered with SEBA Crypto AG and will utilize platform to offer investment, trade and storage alternatives for assets to meet demand from its clients.
Confirming the information in a statement, SEBA said it will propose who head in Julius Baer of markets and also board member, Peter Gerlach, should be elected to a board of directors at an extraordinary general meeting to be held on March 20.
Julius Baer picture via Shutterstock 

SEBA filed its application using FINMA June and intends to go live using crypto banking operations in Q2 of this year, according to a roadmap on its site. The company can be preparing for an initial coin offering (ICO) in Q3.
SEBA, that was launched by former UBS bankers, raised 100 million Swiss francs (or $104 million) in VC funding last September in an effort to set up its regulated cryptocurrency bank. The intention is to offer traditional banking services for companies in the crypto business, along with cryptocurrency trading, asset management and custody services for associations that are thinking about moving to this space.

Swiss private bank Julius Baer has partnered with a cryptocurrency banking startup to offer digital asset services later in 2019.
Gerlach said his company will be “convinced that assets will grow to be a sustainable asset type of an investor’s portfolio. ”
The agreement will come into effect once SEBA receives a banking and securities dealer license in the nation ’s financial regulator, the Financial Market Supervisory Authority (FINMA).