LGT, the largest Liechtenstein royal family-owned private bank, now offers clients direct Bitcoin (BTC) and Ethereum (ETH) investments as well as custody services. For this new offering, the bank has partnered with SEBA Bank, a Swiss supplier of digital asset services. SEBA will provide crypto brokerage and custodial services for these assets since they are regulated in Switzerland.
According to the private bank’s release, LGT clients in Liechtenstein and Switzerland will be the first to enjoy their crypto investment services. Traditional investing processes will apply to LGT’s crypto assets.
According to LGT, the decision to provide crypto investment choices stems from the recent surge in demand for this asset class. The bank went on to say that it recognises how difficult it might be for those without technical knowledge to invest in these assets. That is why the collaboration with SEBA Bank is crucial to the service. SEBA has worked with a variety of crypto firms and has substantial experience in the sector.
When discussing the bank’s competence, Franz Bergmüller, the CEO of SEBA Bank, said:
“As a licensed and FINMA-regulated Swiss bank with core competence in cryptocurrencies and digital assets, we enable banks and their clients to handle traditional and digital assets securely.”
Professional clients or clients of an external asset manager must also be identified as eligible clients. However, there are plans to expand the programme to additional nations in the near future. The bank plans to add more digital assets over time, starting with BTC and ETH. Clients will be subject to the same processes and procedures as traditional investors.
Roland Matt, the CEO of LGT Bank, stated that the bank will strive to maintain the highest security standards while also assisting clients in accessing the crypto area.
According to him,
“We worked intensively on this offering. Cryptocurrencies are still in a stage of dynamic development. LGT therefore first created the corresponding, necessary processes and framework for this type of investment.”
SEBA bank’s head of customers and tech solutions, Mathias Schütz, indicated that the company’s cooperation with LGT may allow it to expand yield earning and staking possibilities in the future. He also stated:
“LGT is also seeing demand from relationship managers to expand the offering to Singapore and other locations.”
