LGT Group, a leading family-owned private banking and asset management firm, has launched Bitcoin (BTC) and Ether (ETH) investments at LGT Bank in Liechtenstein.
According to a joint announcement made on Wednesday, LGT Bank, which manages over $292 billion in assets, is preparing to provide digital asset custody and trading services in collaboration with Swiss cryptocurrency bank Seba.
Seba supports more than 14 cryptocurrencies, including altcoins like Litecoin (LTC), Polkadot (DOT), Tezos (XTZ), the Tether (USDT) stablecoin, and others. LGT Bank will initially offer custody and trading services for BTC and ETH, while Seba will support more than 14 cryptocurrencies, including altcoins like Litecoin (LTC), Polkadot (DOT), Tezos (XTZ).
LGT’s crypto services will be fully linked with traditional asset
Allowing clients to seamlessly exchange assets in their existing portfolios, according to the release. LGT Bank’s new offering will be provided to a small group of clients at first. Clients must be based in Liechtenstein or Switzerland and classed as professional clients or managed by an external asset manager in order to use the new services.
LGT is one of the world’s leading wealth managers and investment firms, with headquarters in Vaduz, Liechtenstein. The financial behemoth dates back to 1920 and has more than 20 offices around the world, including a significant presence in Switzerland.
LGT Bank’s entrance into crypto aligns with the firm’s commitment to meet the increasing demand for investment opportunities, Liechtenstein’s LGT Bank CEO Roland Matt said. He added:
“The demand for cryptocurrencies has also increased among our clients in recent years. When developing our new offering, we paid particular attention to security while focusing on clear, reliable processes and procedures. They are central for dealing with this dynamic and still quite young asset class.”
The development adds to the growing trend of major banks and asset managers offering financial services for Bitcoin and other cryptocurrencies. Banco Galicia and Brubank, Argentina’s largest and second-largest private banks, revealed intentions to allow clients to buy cryptocurrency on Monday.
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