Swiss financial institution St.Galler Kantonalbank has launched Bitcoin and Ether trading and custody companies for its prospects via a partnership with SEBA Bank.
St. Gallen Kantonal Bank (SGKB), 1 of the 5 greatest cantonal banking institutions in Switzerland, announced a partnership with cryptocurrency financial institution SEBA Bank to offer monetary remedies relevant to digital assets this kind of as Bitcoin (BTC) and Ethereum (ETH) for its prospects.
The cooperation agreement in between the two banking institutions also aims to offer digital asset custody and brokerage companies to SGKB consumers. Furthermore, they also prepare to broaden and include additional cryptocurrencies in the potential based on purchaser requirements.
We are pleased to announce our new partnership with St. Gallen Cantonal Bank (SGKB), to allow digital asset custody and brokerage companies for SGKB consumers. This collaboration marks a sizeable milestone in the adoption of digital assets and cryptocurrency-relevant companies in Switzerland…. pic.twitter.com/syVeb0V5t5
— SEBA Bank AG (@WeAreSEBA) November 2, 2023
After acquiring a banking license from the Federal Financial Market Supervisory Authority (FINMA) in 2019, SEBA Bank was 1 of the 1st monetary institutions to carry digital assets to Switzerland and present tailor-produced B2B remedies for distinct forms of institutions, such as personal and retail. banking institutions this kind of as LGT Bank Liechtenstein, Bank Julius Baer and the most recent SGKB.
SEBA Bank has supplied lots of digital monetary companies this kind of as opening trading of Bitcoin Cash (BCH), USDC stablecoin, Staking items Cardano (ADA), Polkadot (DOT), Tezos (XTZ) and gold-backed tokens.
Christian Bieri, Director of B2B Solutions and Custody at SEBA Bank, mentioned:
“St. Gallen Cantonal Bank and SEBA signed a contract earlier this yr, soon after a quick undertaking implementation time period, SGKB is now prepared to offer cryptocurrency companies to particular groups of eligible prospects, the 1st stage are Bitcoin and Ether, other currencies will be integrated Soon.We are pleased to help the St. Gallen Cantonal Bank with our skills in expanding digital asset companies.”
The St. Gallen Cantonal Bank is the fifth greatest cantonal financial institution (business institutions partly owned by the Swiss federal government) in Switzerland, managing assets well worth 53,000 euros and six billion Swiss francs (equivalent to 58.9 million bucks). They offer retail and business banking companies, as nicely as monetary companies to men and women and institutions.
The partnership marks an critical milestone for SGKB in the area of digital assets. Representative of the fifth greatest state financial institution in Switzerland he mentionedthe partnership with SEBA Bank will support their consumers include cryptocurrencies to their present investment portfolio.
“Through our partnership with SEBA Bank, we have taken the first step in establishing convenient access to digital assets for our customers, allowing us to learn and develop these services to meet their needs. Customer needs over time” – Mr. Falk Kohlmann, Director of Market Services St. Lo shared the Galler Cantonal Bank.
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