Swiss private bank Julius Baer has partnered with SEBA Crypto to launch cryptocurrency services later in 2019.
Julius Baer is one of the three largest private banks in Switzerland. The firm said that the move towards digital asset services is driven by customer demand, according to an announcement on Tuesday.
Peter Gerlach, Head of Markets at Julius Baer, said: “At Julius Baer, we are convinced that digital assets will become a legitimate sustainable asset class of an investor’s portfolio. The investment into SEBA as well as our strong partnership are proof of Julius Baer’s engagement in the area of digital assets and our dedication to make pioneering innovation available to the benefit of our clients.”
SEBA Crypto is a Swiss-based blockchain start-up with hopes to become the first ‘crypto bank’, having raised $103 million in September 2018.
Julius Baer is pleased to announce the collaboration with SEBA Crypto AG to provide its clients with access to a range of new digital asset services. https://t.co/5ADODyL58s @WeAreSEBA
— Julius Baer (@juliusbaer) February 26, 2019
According to the firm’s roadmap, the bank will go live in Q2 of 2019 with a further ICO being conducted in the latter stages of the year.
The partnership with a major private bank like Julius Baer is most certainly a signal of intent from SEBA, which has a team comprised of renowned corporate bankers.
Guido Buehler, SEBA’s CEO, said: “We are very proud to have Julius Baer as an investor. SEBA will enable easy and safe access to the crypto world in a fully regulated environment. The cooperation between SEBA and Julius Baer will undoubtedly create value for the mutual benefit and to the clients.”
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