by Through a collaboration with SEBA Bank, a family-owned bank, LGT is now offering direct crypto investments in BTC and other cryptocurrencies to a small group of customers.
LGT Partner With SEBA Bank
As stated in a press statement, LGT Bank, which is the biggest family-owned bank in the world, now provides direct investments in BTC and ETH after entering into a partnership with Switzerland financial company, SEBA Bank.
“We are delighted to be able to provide our customers with quick access to the crypto markets while still maintaining the greatest levels of security. We put quite a lot of time and effort into this service, ” stated the CEO of LGT’s Liechtenstein branch, Roland Matt.
The custody and trading services required for the execution of LGT’s offers will be provided by SEBA Bank, which is situated in Switzerland. Among the security threats that LGT believes are frequent in the field are the liquidity of the market and private key possession hazards. The company claims that the relationship will help to mitigate these risks for the customers.
Only Selected Clients In Switzerland And Liechtenstein Are Currently Eligible
SEBA bank’s Chief Executive Officer, Franz Bergmüller, noted in a press statement that its bank “has the experience, established procedures, and also, an ISAE-certified custody solution that is approved by independent agencies. He stated that;
“In our capacity as a bank licensed in Switzerland and supervised by FINMA, we have a core competency in digital assets and cryptocurrencies and allow banking institutions and their customers to manage digital and traditional assets in a safe manner.”
Bergmüller also added, “The various services coupled with the greatest security requirements distinguishes SEBA Bank’s services from that of other institutions. We are delighted to put our knowledge to work to assist LGT in developing its virtual asset services.”
Customers who already have an account with LGT will discover that the procedures for investing in BTC are quite similar to the procedures for investing in conventional assets. In the event that a customer wishes to sell their assets, LGT will supply the tax documents that were given before, and the funds will be available within a short time.
LGT bank is currently working on expanding these capabilities to a larger variety of locations around the company. Selected clients based in Switzerland and Liechtenstein are the only ones who may take advantage of the first offering. Also, clients must be classified as either professional or as having previously been a member of another asset manager in order to qualify.
The adoption of crypto investment services by several banks and financial institutions shows the usage of crypto as the future of the digital economy.
