Top Swiss bank launches Bitcoin and Ether trading with SEBA

Switzerland’s St.Galler Kantonalbank (SGKB), 1 of the largest banks successful the country, is moving into cryptocurrency by introducing Bitcoin (BTC) and Ether (ETH) trading to its customers.

SGKB has partnered with the planetary cryptocurrency-focused slope SEBA to connection its clients integer plus custody and brokerage services.

Announcing the quality connected Nov. 1, SGKB and SEBA said that the caller crypto work is instantly disposable to prime SGKB customers pursuing a abbreviated play of investigating earlier this year. Starting disconnected with Bitcoin and Ether support, SGKB plans to grow its offerings to further cryptocurrencies based connected lawsuit demand.

Founded backmost successful 1868, St.Galler Kantonalbank is simply a large Swiss determination bank, offering retail and commercialized banking arsenic good arsenic backstage and organization banking. SGKB is reportedly the 5th largest slope successful Switzerland, managing a full of 53.6 cardinal Swiss francs ($58.9 million) by the extremity of 2022.

SGKB’s concern with SEBA marks the bank’s archetypal measurement into the integer plus industry, aiming to let banking customers to seamlessly entree cryptocurrencies wrong their concern portfolios.

Related: Standard Chartered-owned crypto level Zodia launches successful Hong Kong

“We are pleased to connection a prime lawsuit basal entree to integer assets and the integer economy,” SGKB caput of marketplace services Falk Kohlmann said, adding:

"Thanks to our practice with SEBA Bank, we’ve implemented a straightforward archetypal setup, which allows america to larn and turn good aligned to our clients’ needs. We are assured that our clients' integer assets are protected by the custody of a nonrecreational and certified supplier with extended acquisition successful this field."

SGKB’s crypto partner, SEBA, is simply a planetary Swiss-regulated slope for managing, investing, storing cryptocurrencies, nonfungible tokens and different assets. After receiving a banking licence from the Swiss Financial Market Supervisory Authority successful 2019, SEBA has been actively onboarding crypto services to large backstage and retail banks including LGT Bank Liechtenstein and Bank Julius Baer.

The Swiss crypto ecosystem has been rapidly evolving, with galore section banks introducing cryptocurrency services. In September 2023, a licensed Swiss bank, Dukascopy Bank, officially launched its crypto-enabled services including marginal trading and online retail banking accounts.

“We judge that cryptocurrencies proceed to play a important relation successful today's world,” Dukascopy Bank main brokerage serviceman told Cointelergraph. “We are assured that offering crypto-related services done a regulated slope adds important worth to the cryptocurrency manufacture arsenic a whole,” the enforcement added.

Magazine: How to support your crypto successful a volatile marketplace — Bitcoin OGs and experts measurement in