The Swiss Bank Julius Baer began to cooperate with the cryptocurrency startup of Seba Crypto AG, and will use its platform to provide its customers with storage, translations and investment in digital assets in 2019.
The contract will come into force immediately after the SEBA will receive the permission of a financial regulator to carry out banking activities and trade in the Central Bank. Startup filed the appropriate application back in June 2018 and intends to start providing cryptobanking services from the second quarter of the current year.
Despite the fact that in the fall of last year, SEBA attracted $ 104 million venture capital on the opening of the regulated cryptonic bank, the third quarter of 2019 is additionally planned to hold an ICO. Julius Baer also previously invested in the project, but the deposit amount was not disclosed.
The purpose of the startup is to provide traditional banking services using cryptocurrency, as well as selling and managing digital assets. Julius Baer is confident in the long-term success of virtual currencies as a legitimate class of assets.
Recall that the German Exchange Eurex plans