Swiss Cantonal Bank Launches Digital Asset Custody and Trading Services
St. Galler Kantonalbank, one of Switzerland’s largest cantonal banks, has partnered with SEBA Bank to offer digital asset custody and brokerage services to its clients. The bank has announced the launch of custody and trading services for bitcoin and ether, with plans to expand its offerings to include more cryptocurrencies based on client demand. SEBA Bank, a Swiss-based institution, will provide the necessary expertise for these services.
Integration of Cryptocurrencies into Investment Portfolios
This partnership marks St. Galler Kantonalbank’s first step into the digital asset space. By collaborating with SEBA Bank, the bank aims to help its clients integrate cryptocurrencies into their existing investment portfolios. The initial setup has been designed to be straightforward and aligned with the needs of the clients.
About St. Galler Kantonalbank and SEBA Bank
St. Galler Kantonalbank is one of 24 Swiss cantonal banks that are partially owned by the federal governments of Switzerland. On the other hand, SEBA Bank holds a banking license from Switzerland’s FINMA financial markets regulator and offers digital asset services to various banking institutions, including private and retail banks.
Hot Take: Swiss Cantonal Bank Embraces Digital Assets
By launching digital asset custody and trading services in partnership with SEBA Bank, St. Galler Kantonalbank demonstrates its commitment to embracing the world of cryptocurrencies. This move allows the bank’s clients to access bitcoin and ether while paving the way for future additions based on market demand. As cryptocurrencies continue to gain mainstream acceptance, more traditional financial institutions are recognizing their importance and providing avenues for their integration into investment portfolios.
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