St. Galler Kantonalbank Partners with SEBA Bank to Launch Digital Asset Custody and Brokerage Services
Crypto News – St. Galler Kantonalbank, one of Switzerland’s prominent cantonal banks, has entered the digital asset arena by introducing custody and trading services for Bitcoin and Ethereum. In collaboration with SEBA Bank, the fifth-largest Swiss cantonal bank has taken this significant step and plans to expand its digital asset offerings in response to client demand.
SEBA Bank, a Swiss-based institution, is providing brokerage and custody services to St. Galler Kantonalbank for their digital assets. Christian Bieri, Head of B2B and Custody Solutions at SEBA Bank, expressed their satisfaction in supporting the expansion of digital asset services for St. Galler Kantonalbank’s clients.
This partnership, initiated earlier this year and swiftly implemented, now allows a select group of clients to access cryptocurrencies. Initially, Bitcoin and Ethereum are offered, with additional cryptocurrencies to be added shortly.
The launch of digital asset services marks St. Galler Kantonalbank’s first foray into the world of digital assets. The collaboration with SEBA Bank is aimed at enabling their clients to seamlessly integrate cryptocurrencies into their existing investment portfolios.
Falk Kohlmann, Head of Market Services at St. Galler Kantonalbank, emphasized the straightforward initial setup achieved through their cooperation with SEBA Bank, ensuring they can evolve in alignment with their clients’ needs.
St. Galler Kantonalbank is one of Switzerland’s 24 cantonal banks, which are commercial institutions partially owned by the federal government of Switzerland. SEBA Bank holds a banking license issued by Switzerland’s FINMA financial markets regulator and provides digital asset services not only to St. Galler Kantonalbank but also to other banking institutions, including private and retail banks like LGT Bank Liechtenstein and Julius Baer Bank.
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