With Julius Baer’s Vote of Confidence is SEBA Closer to Becoming a Crypto-Bank?by Fintechnews Switzerland February 27, 2019
Following an early-stage minority equity investment in 2018, Julius Baer has agreed on a close collaboration with Switzerland-based SEBA Crypto AG.
Founded in April 2018 and headquartered in Zug, SEBA is building a progressive technological bridge between the traditional and the digital asset worlds. SEBA has ambitions to be one of the first start-ups in the crypto space to close the regulatory gap between conventional and digital assets.
Julius Baer will enter into a partnership with SEBA to take advantage of their innovative platform and capabilities in order to provide Julius Baer clients with leading-edge solutions in the area of digital assets to meet increasing demand.
Through this partnership, which will come into effect upon the granting of the FINMA banking and securities dealer license to SEBA, Julius Baer plans to extend its service range providing storage, transaction and investment solutions for digital assets.
According to SEBA’s roadmap, they aim for their crypto-bank go live in the second quarter of this year.
Peter Gerlach, Head Markets at Julius Baer and proposed member to the Board of Directors of SEBA, said:
“At Julius Baer, we are convinced that digital assets will become a legitimate sustainable asset class of an investor’s portfolio. 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.”
Guido Buehler, CEO SEBA, added:
“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.”