- One of Switzerland’s largest cantonal banks has announced the launch of digital asset custody and brokerage services for its customers in collaboration with SEBA Bank.
- SGKB added that it has plans to expand its digital asset offerings by adding more cryptocurrencies based on customer demand.
- Switzerland’s fifth-largest cantonal bank said its collaboration with SEBA will help its clients integrate cryptocurrencies into their existing investment portfolios.
One of Switzerland’s largest cantonal banks, SGKB, has announced that it will begin offering services for Bitcoin and Ethereum to its customers.
Kantonalbank to Offer Bitcoin and Ethereum Services
One of Switzerland’s largest cantonal banks has launched digital asset custody and brokerage services for its customers in collaboration with SEBA Bank. This week, St. Galler Kantonalbank announced that it has initiated custody and trading services for Bitcoin and Ethereum for a specific group of customers.
SGKB added that it has plans to expand its digital asset offerings by adding more cryptocurrencies based on customer demand. SGKB provides digital asset brokerage and custody services using Switzerland-based SEBA Bank. Christian Bieri, SEBA Bank’s Head of B2B and Custody Solutions, stated:
“We are delighted to support St. Galler Kantonalbank in expanding its services around digital assets.”
Bieri mentioned that SGKB signed the agreement earlier this year and after a short pilot project, SGKB is now ready to provide access to a select group of customers for Bitcoin and Ethereum in the initial phase, with other currencies to follow in the near future.
Integrating into Existing Investment Portfolios
This week’s launch marks SGKB’s first step into the digital asset space. The fifth-largest cantonal bank in Switzerland noted that its collaboration with SEBA Bank will help its customers integrate cryptocurrencies into their existing investment portfolios. Falk Kohlmann, Head of Market Services at St. Galler Kantonalbank, stated:
“Through our collaboration with SEBA Bank, we have established a simple initial setup that allows us to learn and grow according to our customers’ needs.”
SGKB is one of 24 cantonal banks in Switzerland, partly owned by the federal government. SEBA Bank holds a banking license from Switzerland’s financial market regulator, FINMA. The crypto bank provides digital asset services to other banking institutions, including private and retail banks like LGT Bank Liechtenstein and Julius Baer Bank.
