SEBA Bank, a licensed digital assets bank regulated in Switzerland, has teamed up with St.Galler Kantonalbank (SGKB), the country’s fifth-largest cantonal bank, to launch bitcoin and ether custody and brokerage for clients.
The partnership, announced earlier this year, is now fully operational and signifies a major step forward in the Swiss adoption of cryptocurrencies and related services, according to an announcement.
SEBA Bank, which obtained its banking license from the Swiss Financial Market Supervisory Authority (FINMA) in 2019, stands as one of the earliest financial entities to integrate digital assets into the Swiss banking environment.
It offers a suite of B2B solutions to a number of clients, including LGT Bank Liechtenstein, Bank Julius Baer, and now SGKB. Based in Zug, SEBA ensures compliance with stringent regulatory standards, offering institutional-grade custody solutions that align with their client’s digital investment needs.
Christian Bieri, the Head of B2B & Custody Solutions at SEBA Bank, emphasized the bank’s commitment to secure handling of both traditional and digital assets.
He expressed enthusiasm for aiding SGKB in broadening its digital asset services, underlining the distinctive comprehensive banking services coupled with Swiss-standard security that SEBA provides.
“The full suite of banking services combined with the highest security standards expected of a Swiss financial institution, make SEBA Bank’s service offering unique,” Bieri added.
SGKB’s venture into digital assets, supported by SEBA, marks its commitment to staying at the forefront of financial innovation and customer service.
The bank has commenced offering Bitcoin and Ethereum custody and trading services to an exclusive segment of its clientele, with an eye to broaden the scope of cryptocurrencies offered in response to client demand.
Falk Kohlmann, SGKB’s Head of Market Services, praised the partnership’s ease of integration and focus on client-oriented growth. He expressed confidence in the secure management of digital assets, backed by SEBA Bank’s certified expertise.
This collaboration is poised to reshape the investment landscape for SGKB’s clients, offering them a bridge to the burgeoning digital economy and setting a precedent for Swiss banks’ engagement with digital assets.