On Wednesday, the world’s largest family-owned banking institution, LGT Bank, announced that it has selected SEBA Bank in order to provide cryptocurrency custody and brokerage services to clients. LGT will start by offering investments in bitcoin and ethereum and the bank’s customers can incorporate the digital assets into their existing LGT Bank-managed portfolios.
LGT Bank Partners with the FINMA Licensed SEBA Bank to Offer Crypto Services
The largest family-owned private banking and asset management firm LGT Group has revealed the parent company’s banking institution will now offer crypto investment opportunities. LGT Group has been around for over 100 years and is controlled by the Princely House of Liechtenstein.
SEBA Bank, a FINMA digital assets platform licensed by SEBA Bank announced on May 4 that LGT Bank chose SEBA as a crypto partner. LGT will leverage SEBA’s regulated crypto platform and custody services so the bank’s clientele can invest in crypto assets. Roland Matt (CEO of LGT Bank Liechtenstein) stated that LGT Bank has experienced increased customer demand for cryptocurrency products.
“The demand for cryptocurrencies has also increased among our clients in recent years,” the LGT CEO said in a statement on Wednesday. “We are very pleased that we can now offer our client easy access to these asset class. When developing our new offering, we paid particular attention to security while focusing on clear, reliable processes and procedures.”
A family-owned private bank executive added:
This is a crucial step in dealing with the dynamic, yet still young asset class. Thanks to our cooperation with SEBA Bank, our clients’ digital assets are held in the custody of a professional and certified provider with extensive experience in this area.
LGT To Offer Bitcoin Investments and Ethereum Investments
LGT and its clients will leverage “SEBA Bank’s ISAE 3402 certified hot and cold storage custody solutions” and the bank will initially allow investments in bitcoin (BTC) and ethereum (ETH). At first, the crypto investment opportunity will be available to “selected client groups” chosen by LGT.
Additionally, customers who are interested in crypto services should be located in Liechtenstein and Switzerland. Franz Bergmüller, the CEO of SEBA Bank, explained on Wednesday that SEBA looks forward to working with LGT Bank.
“The range of services combined with the highest security standards makes SEBA Bank’s service offering unique and we are very pleased to be able to support LGT with our expertise in expanding its services around digital assets,” Bergmüller said during the announcement.
Let us know your thoughts about LGT Bank’s offering of crypto services via SEBA Bank. Please comment below to let us know your thoughts on this topic.
Images CreditShutterstock. Pixabay. Wiki Commons
DisclaimerThis information is provided for educational purposes only. This article is not intended to be a solicitation or offer to sell or buy any product, service, or company. Bitcoin.com is not a provider of investment, tax, legal or accounting advice. The author and the company are not responsible for any loss or damage caused or alleged caused by the content or use of any goods, services, or information mentioned in the article.