Home Cryptocurrency Swiss Bank, Julius Baer to Offer Bitcoin, Crypto services

Swiss Bank, Julius Baer to Offer Bitcoin, Crypto services

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A private bank based in Zurich, Switzerland, 132 year-old Julius Baer Group declared that it is creating a proprietary digital wealth management system focused on bitcoin and other cryptocurrencies exclusively tailored to high-net-worth clients.

The firm’s CEO Philipp Rickenbacher acknowledged that for the next three years, they will move into the cryptocurrency space during his delivery of the company’s strategy update.

The private bank stated that it aims to position itself at the intersection where bitcoin and other cryptocurrencies meet the real world while addressing the volatility of the space. Julius Baer intends to watch  the growing asset class, monitoring its evolution and any opportunities that may present themselves.

“It could well be that at this very instant we are witnessing a bubble-burst moment of the crypto industry, and we all know what happened after the dot-com bubble burst 30 years ago,” said Philipp Rickenbacher during a presentation to investors, according to a report from Bloomberg.

“It paved the way for the emergence of a new sector that indeed transformed our lives; I believe digital assets and decentralized finance hold that same potential,” Rickenbacher reportedly continued.

It is noted that Julius Baer has taken a stake in SEBA Crypto AG, one of only two fully-regulated crypto banks in Switzerland. Julius Baer stated that, when investing in SEBA in 2019, they believed that bitcoin and other cryptocurrencies would become a “legitimate sustainable asset class of an investor’s portfolio.”

Guido Buehler, CEO of SEBA, stated at the time, “We are very proud to have Julius Baer as an investor. SEBA will enable easy and safe access to the crypto world in a fully regulated environment. The cooperation between SEBA and Julius Baer will undoubtedly create value for mutual benefit and to the clients.”



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