LGT Bank, said to be the world’s largest family-owned private bank, is launching a custody and trading service for bitcoin and ether. For this new offer, which aims to be easy to integrate into a classic investment portfolio, the secular institution has teamed up with the Swiss crypto-bank SEBA Bank.
LGT Bank, new institution to get into the crypto bath
While retail investors have played a key role in the development of cryptocurrencies, the commitment of institutions has now become paramount in the eyes of many, to support their growth for mass adoption. 2021 will have been a decisive step in this sense, and 2022 continues the trend. So like many banks before them, LGT Bank is getting into the crypto bath and now offers its handpicked clientele residing in Liechtenstein and Switzerland a trading and custody service for bitcoin and ether.
We are very pleased to now be able to offer our customers convenient access to these markets while maintaining the highest safety standards. We have worked intensively on this offer. Cryptocurrencies are still in a dynamic stage of development. This is why LGT first created the corresponding and necessary processes and framework for this type of investment.
Roland Matt, CEO of LGT Bank, in Press Release
A turnkey solution that could be exported
LGT Bank’s crypto solution is naturally intended as easy to access as for other investments. No worries about private keys and passwords since the bank takes care of everything. Rather its partner Seba Bank. A specialized platform duly regulated by the Swiss regulator, FiNMA, which is able to offer a solid and secure infrastructure dedicated to this particular asset class.
LGT Bank affirms by this initiative meet the growing demand of its wealthy clientele. In fact, if it limits itself initially to the first two cryptocurrencies, it would intend toexpand its offer to more tokens but also of propose staking and yield solutions according to Mathias Schütz, Head of Customer and Technology Solutions at SEBA. Its ambition is also to extend its crypto service offer beyond the two original jurisdictions. Already present in Singapore, the United Arab Emirates and Dubai, the future destinations of its new service have probably all been found.