Switzerland’s St.Galler Kantonalbank has partnered with the global crypto bank SEBA to offer its clients digital asset custody and brokerage services.
Switzerland’s St.Galler Kantonalbank has launched Bitcoin and Ether trading for select customers and plans to add more coins in the future.Switzerland’s St.Galler Kantonalbank , one of the largest banks in the country, is moving into cryptocurrency by introducing Bitcoin in assets under management at the end of 2022.
SGKB’s partnership with SEBA marks the bank’s first step into the digital asset industry, aiming to allow banking customers to seamlessly access cryptocurrencies within their investment portfolios.“We are pleased to offer a select client base access to digital assets and the digital economy,” SGKB head of market services Falk Kohlmann said, adding:
“Thanks to our cooperation with SEBA Bank, we’ve implemented a straightforward initial setup, which allows us to learn and grow well aligned to our clients’ needs. We are confident that our client’s digital assets are protected by the custody of a professional and certified provider with extensive experience in this field.“and other assets.
The Swiss crypto ecosystem has rapidly evolved, with many local banks introducing cryptocurrency services. In September 2023, a licensed Swiss bank, Dukascopy Bank, officially launched its crypto-enabled services, including marginal trading and online retail banking accounts. “We believe that cryptocurrencies continue to play a significant role in today’s world,” Dukascopy Bank’s chief brokerage officer told Cointelegraph. “We are confident that offering crypto-related services through a regulated bank adds substantial value to the cryptocurrency industry as a whole,” the executive added.
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