- Additional cryptocurrencies and staking services are planned, according to Christian Bieri.
- SGKB’s decision to offer Bitcoin (BTC) and Ethereum (ETH) is an encouraging first step.
St. Galler Kantonalbank (SGKB), Switzerland’s fifth-largest cantonal bank, has made headlines by deciding to broaden access to crypto services.
SGKB is planning to provide Bitcoin (BTC) and Ethereum (ETH) trading and custody services to customers in Switzerland in partnership with SEBA Bank, a digital asset specialist licensed by the Swiss Financial Market Supervisory Authority (FINMA).
Banking on Wealth Management Clients
Moreover, founded in 1868 and with 35 locations in eastern Switzerland, St. Galler Kantonalbank is expanding into digital assets with the help of SEBA Bank. While retail customers and more cryptocurrencies are not part of the original scope of this partnership, the bank does want to eventually integrate them. Also, additional cryptocurrencies and staking services are planned, according to Christian Bieri, Head of Investment Solutions at SEBA Bank.
In the meanwhile, this action is indicative of a growing pattern in Switzerland, where an increasing number of banks are entering the cryptocurrency market. Recently, Bieri noted in an interview that SEBA Bank has boarded its first bank with a retail focus, which is a major step forward for digital assets in the nation. Although, wealth management clients will be the bank’s initial customers.
Also, this relationship with SEBA Bank exemplifies SGKB’s dedication to innovation and customer satisfaction as it makes its first foray into the digital asset realm and makes it possible for its customers to easily include cryptocurrency investments into their current portfolios.
SGKB’s decision to offer Bitcoin (BTC) and Ethereum (ETH) is an encouraging first step, and additional growth is planned based on customer demand.
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