Switzerland remains one of the top countries who are willing to ride the enormous wave of cryptocurrency. The Swiss government allows the arrival of blockchain technology headquarters into their country without question. It also boasts Crypto Valley, one of the world’s leading blockchain ecosystem that houses connections to international cryptocurrency centers. The only thing missing from Switzerland’s headstrong approach to cryptocurrency is its local banking system, which is also set to go all in on the crypto trend.
Once refusing to give cryptocurrency access, Swiss banking giant Julius Baer opens the doors for its clients to engage in digital asset services. Julius Baer’s big move stems from its partnership with cryptocurrency bank startup Seba. Intent on helping provide crypto support services and banks to its clients, Seba managed to raise over $100 million.
Seba & Julius Baer Partner to Provide Crypto Banking
Seba is currently trying to reach out to the Swiss Financial Market Supervisory Authority for a banking license and securities dealer. When the crypto bank secures a grant for those two, Julius Baer will be able to offer cryptocurrency storage, investment solutions, and digital asset transactions. Peter Gerlach, Julius Baer’s Head of Markets, states that digital assets have the potential to a sustainable asset class for an investor.
Seba CEO Guido Buehler acknowledges that cryptocurrency firms struggle to acquire Swiss banking services. Buehler understands how challenging it is for Switzerland to open bank accounts for digital assets but reveals that the country will have a chance to become one of the top nations in cryptocurrency if banks open services to the residents.