Julius Baer has held a minority equity interest in the Zug-based startup SEBA Crypto since last year, it was reported in a press release. A “close collaboration” has now been agreed between the two companies. According to Julius Baer, “SEBA is expected to be one of the first startups in the crypto space to close the regulatory gap between conventional and digital assets”.
The Bank now intends to use the SEBA platform to provide clients with “leading-edge solutions in the area of digital assets”. With this move, Julius Baer is responding to increasing demand for such products. Through this partnership, Julius Baer will have an extended service range and be able to offer “storage, transaction and investment solutions for digital assets”.
“At Julius Baer, we are convinced that digital assets will become a legitimate sustainable asset class of an investor’s portfolio,” commented Peter Gerlach, Head Markets at Julius Baer, in the press release. “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 client.”
However, this partnership will only come into effect once the FINMA banking and securities dealer license is granted to SEBA.
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