- LGT Bank, the most important family-owned non-public financial institution on the earth, is providing direct investments in bitcoin and one other cryptocurrency for choose purchasers.
- The service will likely be custodied by means of a partnership with Swiss SEBA Bank.
- Initially the providing will solely embrace choose purchasers in Liechtenstein and Switzerland with plans to broaden.
LGT Bank, the most important family-owned banking group on the earth, now affords direct investments in bitcoin and one other cryptocurrency by means of a partnership with Swiss monetary establishment SEBA Bank, in accordance to a press release.
“We are very pleased that we can now offer our clients convenient access to these markets while upholding the highest security standards,” stated Roland Matt, CEO of LGT Bank at Liechtenstein. “We worked intensively on this offering.”
Switzerland-based SEBA Bank will present the mandatory buying and selling and custody companies to the implementation of LGT’s choices. LGT stated that the partnership seeks to cut back safety dangers for its purchasers that it says are frequent within the house, together with market, liquidity and personal key possession dangers.
“We have the expertise, established processes and, above all, a custody solution that is ISAE-certified and established by independent bodies,” stated Franz Bergmüller, CEO of SEBA Bank, within the launch. “As a licensed and FINMA-regulated Swiss bank with a core competence in cryptocurrencies and digital assets, we enable banks and their clients to handle traditional and digital assets securely.”
Bergmüller continued to say, “The range of services combined with the highest security standards makes SEBA Bank’s service offering unique, and we are very pleased to be able to use our expertise to support LGT in expanding its services for digital assets.”
Existing purchasers of LGT will discover the processes for investing in bitcoin related to the processes related to conventional belongings. LGT will present the identical tax documentation for tax returns and the liquidity will likely be accessible after a brief time period if a shopper chooses to promote.
The preliminary providing is solely obtainable to choose purchasers positioned in Liechtenstein and Switzerland. The purchasers should even be designated as both skilled purchasers or have been beforehand a part of an exterior asset supervisor. LGT is within the strategy of extending this performance throughout a broader vary of areas.