International financial services provider LGT Bank partnering with SEBA Bank to provide cryptocurrency custody to clients
On Wednesday, the world’s largest family-owned banking services provider, LGT Bank which is based
in Liechtenstein announced a partnership with a fully integrated SEBA Bank. This
deal was performed to provide cryptocurrency custody like Bitcoin and Ethereum
and brokerage services to clients.
The international financial services provider LGT Bank will start by offering crypto investment opportunities in bitcoin and Ethereum. The bank’s customers can incorporate the digital assets into their existing LGT Bank-managed portfolios thereby clients will get easy access to these asset classes.
LGT will take advantage of SEBA’s regulated crypto platform and custody services so that the clients of the bank can invest in crypto assets.
Clients must reside in Liechtenstein or Switzerland and be classified as professional clients or be managed by an external asset manager to access services. In a release, LGT stated that additional cryptocurrencies will be added going forward, as per the client’s demand. LGT Bank has a focus on private banking and asset management.
As per Roland Matt, the CEO of LGT Bank, Liechtenstein, detailed that increased demand for crypto products from customers has been seen by LGT.
Currently, a range of investment services is supported by SEBA Bank including trading in 14 cryptocurrencies, a comprehensive crypto yield offering, SEBA Earn, and the SEBA Gold Token, a digital token backed by physical Swiss gold. Digital Assets investment solutions firm LGT banks will get the benefits of SEBA bank UAE 3402 certified hot and cold storage solutions.
About SEBA Bank :
SEBA Bank is based in Switzerland. It is a FINMA licensed digital assets banking platform that was founded in 2018. It has its headquarters in Zug. SEBA Bank provides universal regulated banking services also it received a swiss banking and securities dealership license in the month of August 2019.
In September 2021 a regulatory authority FINMA granted CISA license to a financial services provider with a core capability in digital assets. In February 2022 SEBA Bank opened an office in Abu Dhabi after getting Financial Services Permission from Abu Dhabi Global Market.
About LGT Bank :
LGT Bank is part of an international private banking and asset management group LGT Group. Princely House of Liechtenstein has owned the financial institution LGT bank. This LGT Group is more than 100 years old. LGT Group provides reports of over CHF 280 billion in assets under management. To allow clients to incorporate crypto without going through hassles into their existing portfolio, LGT Bank provides digital asset investment services which are fully integrated with traditional assets.
CBW - External Analyst