LGT Bank is the largest private bank in the world and is wholly owned by a single family in Liechtenstein. In addition, the bank has at least $200 billion in assets under management. Definitely not a small player. It was recently announced that LGT Bank will step into the world of crypto with both feet and offer clients the opportunity to invest in, among other things, bitcoin (BTC)†
In a official press release the bank announces that they are now enabling customers to gain instant exposure to cryptocurrencies. This is done by entering into a partnership with the Swiss SEBA bank. LGT Bank CEO Roland Matt had this to say:
“We are very pleased that we can now offer our customers easy access to these markets, while maintaining the highest safety standards. We have worked intensively on this offer.”
Swiss-based SEBA Bank will provide the necessary trading and custody services for the implementation of LGT’s offering. LGT said the partnership aims to reduce the security risks to its customers that LGT believes are common in the industry. These risks include liquidity and the safekeeping of private keys meant. The CEO of SEBA Bank, Franz Bergmuller, said that they have all the expertise to make LGT’s new services run smoothly.
“We have the expertise, established processes and most importantly a custody solution that is ISAE certified and approved by independent bodies. As a licensed and FINMA regulated Swiss bank with a core competence in cryptocurrencies and digital assets, we enable banks and their customers to safely handle traditional and digital assets.”
For LGT Bank clients, investing in the new crypto services is a piece of cake. The process is similar to investing in any other asset class. In addition, the bank arranges all tax-related matters for investors.