- LGT Group, a massive financial institution in Liechtenstein, has teamed up with the Swiss SEBA bank to offer their customers an option to directly invest in BTC and ETH. The decision was made based on growing demand for crypto transactions and overall interest in blockchain tech.
🔉 𝗟𝗚𝗧 𝗕𝗮𝗻𝗸 𝗦𝗲𝗹𝗲𝗰𝘁𝘀 𝗦𝗘𝗕𝗔 𝗕𝗮𝗻𝗸 𝗧𝗼 𝗣𝗿𝗼𝘃𝗶𝗱𝗲 𝗗𝗶𝗴𝗶𝘁𝗮𝗹 𝗔𝘀𝘀𝗲𝘁 𝗖𝘂𝘀𝘁𝗼𝗱𝘆 𝗮𝗻𝗱 𝗕𝗿𝗼𝗸𝗲𝗿𝗮𝗴𝗲 𝗦𝗲𝗿𝘃𝗶𝗰𝗲𝘀🚀— SEBA Bank AG (@WeAreSEBA) May 4, 2022
✔️ Private bank to launch custody and trading services for #Bitcoin and #Ethereum
Get the news👉 https://t.co/oqEPBywPQz pic.twitter.com/Df83QKWuW4
In this new partnership deal, SEBA Bank will play the role of broker as well as custodian. The custody solution is fully regulated and will let customers store their digital assets using the same rules normally used for traditional assets, including documentation for tax returns. Moreover, customers won’t have to keep track of their crypto wallet keys or even passwords, as the crypto assets will be stored directly and easily accessed in the bank’s internal system.
Ambitious Plans to Expand Further into the Crypto World
LGT Bank’s CEO, Roland Matt, explained: “When developing our new offering, we paid particular attention to security while focusing on clear, reliable processes and procedures. They are fundamental when dealing with this dynamic and still quite young asset class.”
The responsibility to meet their client’s demands in opportunities as well as security is not bound to just Liechtenstein or Switzerland. In the near future, LGT Bank in partnership with SEBA Bank will broaden the territory of their services, but haven’t disclosed where exactly yet.
BTC Could Double by the End of 2022, According to Experts
The Swiss part of the team, SEBA Bank, already offers services in most of the top 20 cryptocurrencies, including Litecoin (LTC), Tether (USDT), and Polkadot (DOT). Their partners in Liechtenstein have plans to integrate altcoins with the help of SEBA’s expertise, which seems to be trustworthy. SEBA bank has its own native token, the SEBA Gold Token, which is backed by real Swiss gold.
Interestingly, SEBA also offers a digital Gold Token, backed by physical gold. This enables the "Digital Ownership of Physical #Gold".— Nadim Rafael Mekki (@Nadim_Mekki) April 29, 2022
Article in Forbes about SEBA:https://t.co/akTSTBsM2E
In addition, SEBA specialists paint a very bright future for Bitcoin (BTC). Research conducted at the beginning of the year drew a conclusion that BTC will at least hit the mark of $50,000, but could possibly go up to $75,000 by the end of 2022. Certainly, it looks like partnership deals like the one between Liechtenstein’s LGT and Switzerland’s SEBA banks only confirm there’s a lot of truth to this prediction.