Swiss private banking group Julius Baer has teamed up with local fintech firm SEBA CRYPTO to offer digital asset services.

The tie-up will enable the private bank to offer storage, transaction as well as investment solutions for digital assets.

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The alliance will be effective following SEBA’s receipt of the FINMA banking and securities dealer licence.

Julius Baer head of markets Peter Gerlach said: “The investment into SEBA as well as our strong partnership are proof of Julius Baer’s engagement in the area of digital assets and our dedication to make pioneering innovation available to the benefit of our clients.”

Gerlach believes digital assets to become a “legitimate sustainable asset class” for investors.

SEBA CEO Guido Buehler said: “SEBA will enable easy and safe access to the crypto world in a fully regulated environment.

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“The cooperation between SEBA and Julius Baer will undoubtedly create value for the mutual benefit and to the clients.”

Led by ex-UBS managers Guido Buehler and Andreas Amschwand, SEBA aims to bridge the gap between crypto and traditional financial sectors.

Last September, the Zug-based start-up secured around $104m funding from a group of Swiss and international institutional and private investors.

The investors include Black River Asset Management and Summer Capital.