- Julius Baer Group, a Swiss personal financial institution, will start providing bitcoin and different cryptocurrency merchandise to high-net-worth people.
- Julius Baer defined we are possible witnessing a bubble related to the dot-com burst which birthed a brand new trade.
- The financial institution initially partnered with cryptocurrency financial institution SEBA in 2019 because the establishment turned extra familiarized with the trade.
Julius Baer Group, a non-public financial institution based mostly in Zurich, Switzerland announced that it is making a proprietary digital wealth administration system targeted on bitcoin and different cryptocurrencies completely tailor-made to high-net-worth purchasers.
The personal financial institution famous its aim to place itself on the intersection the place bitcoin and different cryptocurrencies meet the fiat world whereas acknowledging the volatility of the area. Julius Baer plans to maintain a watchful eye on the rising asset class, monitoring its evolution and any alternatives which will current themselves.
“It could well be that at this very instant we are witnessing a bubble-burst moment of the crypto industry, and we all know what happened after the dot-com bubble burst 30 years ago,” stated CEO of Julius Baer Philipp Rickenbacher throughout a presentation to buyers, in accordance to a report from Bloomberg.
“It paved the way for the emergence of a new sector that indeed transformed our lives; I believe digital assets and decentralized finance hold that same potential,” Rickenbacher reportedly continued.
Julius Baer has taken a stake in SEBA Crypto AG, one in all solely two fully-regulated crypto banks in Switzerland. When investing in SEBA in 2019, Julius Baer noted that they had been satisfied that bitcoin and different cryptocurrencies would turn into a “legitimate sustainable asset class of an investor’s portfolio.”
Guido Buehler, CEO of SEBA, said on the time, “We are very proud to have Julius Baer as an investor. SEBA will enable easy and safe access to the crypto world in a fully regulated environment. The cooperation between SEBA and Julius Baer will undoubtedly create value for the mutual benefit and to the clients.”