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January 22, 2020

Julius Baer rolls out digital assets service

Swiss private banking group Julius Baer, in association with crypto-bank SEBA, has launched its digital assets service.

The pair collaborated on the initiative last February and SEBA secured a crypto banking licence from Swiss financial watchdog FINMA in August 2019.

Safety, technical reliability, and tradability were the key parameters for the selection of virtual currencies available through the alliance.

Currently, Julius Baer’s digital assets suite includes access to secure storage and transaction solutions. At the same time, the  Zurich-based bank provides consolidated portfolio overviews across traditional as well as digital assets.

Julius Baer customers booked in Switzerland can avail these services utilising the SEBA platform.

In recent times, multiple firms across the globe have jumped on the crypto bandwagon.

A year ago, Swiss asset manager Vontobel launched a service called Digital Asset Vault.

The service enables banks and wealth managers in Switzerland to deposit, buy and sell virtual currency on behalf of clients.

Soon after, Swiss private bank Falcon started accepting direct transfers of selected cryptocurrencies, including Bitcoin, for private and institutional clients.

Fund services provider Zedra also entered the digital assets space last year in partnership with digital custodian Vo1t.

At the same time, a report last year said that American asset manager Fidelity Investments will provide cryptocurrency trading targeting institutional investors.

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