Home / Crypto News / Swiss major bank operating over 40 trillion yen overturns entry into cryptocurrency industry

Swiss major bank operating over 40 trillion yen overturns entry into cryptocurrency industry

Julius Baer, a major bank that provides asset management services for wealthy people in Switzerland , announced the entry into the cryptocurrency industry on 26 February .

Julius Baer is pleased to announce the collaboration with SEBA Crypto AG to provide its clients with access to a range of new digital asset services. Https://t.co/5ADODyL 58s @ WeAreSEBA

– Julius Baer (@ juliusbaer) February 26, 2019

Julius Bear is one of Switzerland ‘s three largest private banks founded in 1890, and its operation amount reaches 382 billion francs (about 42.8 trillion yen).

The bank announced that it will invest in SEBA which handles the cryptocurrency business in Switzerland and will offer cryptocurrency related services such as custody and asset management in the future.

SEBA is currently applying for banking and securities business licenses to the Swiss Financial Market Supervision Bureau (FINMA), and if it is approved in the future SEBA will be able to develop regulatory compliant business.

Guido Buehler, CEO of SEBA, said in his presentation:

“We are extremely honored to accept Julius Baer as an investor.SEBA will provide safe and easy access to the cryptocurrency market in a regulated and fully compliant environment.SEBA and Julius Baer The partnership will definitely create value for each other and for our customers. “

As reported in CRYPTO TIMES, Switzerland shows a positive attitude towards the cryptocurrency, and the environment such as law maintenance and low tax rate is well prepared.

The entry of major banks from such an environment is expected to inflow money to the market, attention is gaining attention of Julius · Bear’s future accompanying.

Article Source: Julius Baer, ​​Bloomberg

Author: kaz 【Coin Desk News】 – Source Post: https://crypto-times.jp/julius-baer-to-enter-the-crypto-space/

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