Swiss bank Julius Baer has strategically collaborated with SEBA to offer crypto asset services according to a press release which was published by Julius Baer on February 26.
Zug-based SEBA Crypto AG (SEBA), is a startup offering services in the financial industry. The firm is developing a progressive technological link between the traditional and the digital asset worlds.
“SEBA was founded in 2018 and is expected to be one of the first start-ups in the crypto space to fill the regulatory gap between traditional and digital assets,” According to the press release.
Julius Baer posted on Twitter about its alliance with SEBA
— Julius Baer (@juliusbaer) February 26, 2019
The press report mentions, Julius Baer will utilize SEBAs innovative platform and capabilities in order to provide clients with leading-edge solutions. Julius Baer intends to extend its service range which offers storage, investment and transaction solutions for digital assets.
The partnership is anticipated to come into effect, upon the granting of banking and securities dealer license to SEBA by FINMA (Swiss Financial Market Supervisory Authority).
According to the report Peter Gerlach, Head 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 also published a report on February 26, about an upcoming General Meeting on 20 March 2019. At the general meeting, SEBA will propose the election of Peter Gerlach, Member of the Executive Board at Julius Baer bank, to the Board of Directors and to its shareholders.
According to the SEBA report, Guido Bühler, CEO of SEBA, stated – “We are very pleased about the cooperation because Julius Baer’s customers can be offered direct and secure access to the crypto world via the SEBA platform. At the same time, we are delighted to propose Peter Gerlach as a new member of our Board of Directors. He complements the Board with extensive financial and market knowledge and a broad international network.”
The government and regulations of Switzerland have always encouraged crypto-related business. Recently, a bitcoin ATM producer firm Lamassu had moved to Switzerland citing regulatory issues in other countries.