Julius Baer, a Swiss private bank with the participation of cryptocurrency company SEBA Crypto AG, will offer services for digital assets.
Julius Baer will use the blockchain platform to offer storage solutions, transactions and investments in digital assets in order to meet the growing demand of its customers.
The agreement will come into force after SEBA obtains a license to conduct banking operations and trade in securities from the financial regulator of the country, the Financial Market Supervision Authority (FINMA).
SEBA applied to FINMA in June 2018 and plans to start working with cryptocurrency banking operations in the second quarter of 2019, according to information on the company's website. SEBA is also preparing for the initial token allocation (ICO) in the third quarter.
In 2018, Julius Baer invested in SEBA shares, the exact amount of the deal was not disclosed.
At the general meeting to be held on March 20, SEBA intends to invite shareholders to introduce Julius Baer, a member of the board of directors, Peter Gerlach, to the board of directors.
According to Gerlach, digital assets will become the legal class of sustainable assets in the investor’s portfolio.
Earlier, the startup SEBA, created by former employees of UBS, raised about $ 104 million to create a “regulated cryptocurrency bank”.
Julius Baer will use the blockchain platform to offer storage solutions, transactions and investments in digital assets in order to meet the growing demand of its customers.
The agreement will come into force after SEBA obtains a license to conduct banking operations and trade in securities from the financial regulator of the country, the Financial Market Supervision Authority (FINMA).
SEBA applied to FINMA in June 2018 and plans to start working with cryptocurrency banking operations in the second quarter of 2019, according to information on the company's website. SEBA is also preparing for the initial token allocation (ICO) in the third quarter.
In 2018, Julius Baer invested in SEBA shares, the exact amount of the deal was not disclosed.
At the general meeting to be held on March 20, SEBA intends to invite shareholders to introduce Julius Baer, a member of the board of directors, Peter Gerlach, to the board of directors.
According to Gerlach, digital assets will become the legal class of sustainable assets in the investor’s portfolio.
Earlier, the startup SEBA, created by former employees of UBS, raised about $ 104 million to create a “regulated cryptocurrency bank”.
