A Major private bank will be begin offer crypto
A Swiss-regulated digital asset service provider, SEBA Bank, will provide crypto services to LGT’s private banking and asset management group, managing more than CHF280 billion ($288 billion) in assets . LGT will initially offer investment services for bitcoin (BTC) and ether. The bank is considering adding more coins and staking and earning yield opportunities.
LGT’s crypto services, according to the statement, would be fully integrated with traditional assets, allowing customers to seamlessly exchange assets in their existing wallets. Clients must be based in Liechtenstein or Switzerland, be classified as professional clients or be managed by an external wealth manager to use the new services.
What is LGT Bank?
LGT, headquartered in Vaduz, Liechtenstein, is one of the world’s leading wealth managers and investment organizations. The financial powerhouse was founded in 1920 and has a strong presence in Switzerland and more than 20 locations worldwide. LGT Bank’s entry into cryptocurrency is in line with the company’s commitment to meet the growing demand for investment opportunities.
The bank is also looking for opportunities to expand its crypto service to its offices in Singapore, where SEBA Bank also has a presence, and other regions like Dubai, where clear legislation allows banks to operate in the crypto market. .