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LGT Group, a high family-owned personal banking and asset administration group, is transferring into cryptocurrency by launching Bitcoin (BTC) and Ether (ETH) investments at LGT Bank in Liechtenstein.Managing over $292 billion of belongings, LGT Bank has debuted digital asset custody and buying and selling companies in cooperation with Swiss cryptocurrency financial institution Seba, in response to a joint announcement launched on Wednesday.”LGT Bank has been providing direct investments in Bitcoin and Ether since May. The personal financial institution has entered right into a partnership with Seba Bank, which is able to act as dealer and custodian to supply this service,” Seba Bank’s chief advertising and marketing officer Sandra Frank informed Cointelegraph.LGT Bank will initially supply custody and buying and selling companies for BTC and ETH, whereas Seba helps greater than 14 cryptocurrencies, together with altcoins like Litecoin (LTC), Polkadot (DOT), Tezos (XTZ), the Tether (USDT) stablecoin and others.According to the announcement, LGT’s crypto companies shall be totally built-in with conventional belongings, enabling shoppers to simply alternate belongings of their present portfolios. The new providing shall be initially obtainable to chose consumer teams of LGT Bank. In order to entry the brand new companies, shoppers have to be primarily based in Liechtenstein or Switzerland and be labeled as skilled shoppers or be managed by an exterior asset supervisor.Headquartered in Vaduz, Liechtenstein, LGT is likely one of the world’s largest wealth managers and funding corporations. The banking big traces its historical past again to 1920 and has a key presence in Switzerland along with greater than 20 places of work across the globe. LGT Bank’s entrance into crypto aligns with the agency’s dedication to fulfill the rising demand for funding alternatives, Liechtenstein’s LGT Bank CEO Roland Matt mentioned. 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 information additional reaffirms the continued pattern on world banks and asset managers more and more adopting funding companies for Bitcoin and different cryptocurrencies. On Monday, Argentina’s largest and second-largest personal banks, Banco Galicia and Brubank, introduced plans to allow crypto purchases for shoppers.Related: German banking big Commerzbank applies for crypto licenseAs beforehand reported by Cointelegraph, a number of the world’s most distinguished banks made main strikes into Bitcoin in 2021, with Bank of New York Mellon asserting plans to carry and switch BTC as an asset supervisor on behalf of its shoppers in February. Other world banks like Argentina’s BBVA and U.S. Bank subsequently introduced the launch of comparable crypto funding companies.

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LGT Group, a high family-owned personal banking and asset administration group, is transferring into cryptocurrency by launching Bitcoin (BTC) and Ether (ETH) investments at LGT Bank in Liechtenstein.

Managing over $292 billion of belongings, LGT Bank has debuted digital asset custody and buying and selling companies in cooperation with Swiss cryptocurrency financial institution Seba, in response to a joint announcement launched on Wednesday.

“LGT Bank has been providing direct investments in Bitcoin and Ether since May. The personal financial institution has entered right into a partnership with Seba Bank, which is able to act as dealer and custodian to supply this service,” Seba Bank’s chief advertising and marketing officer Sandra Frank informed Cointelegraph.

LGT Bank will initially supply custody and buying and selling companies for BTC and ETH, whereas Seba helps greater than 14 cryptocurrencies, together with altcoins like Litecoin (LTC), Polkadot (DOT), Tezos (XTZ), the Tether (USDT) stablecoin and others.

According to the announcement, LGT’s crypto companies shall be totally built-in with conventional belongings, enabling shoppers to simply alternate belongings of their present portfolios. The new providing shall be initially obtainable to chose consumer teams of LGT Bank. In order to entry the brand new companies, shoppers have to be primarily based in Liechtenstein or Switzerland and be labeled as skilled shoppers or be managed by an exterior asset supervisor.

Headquartered in Vaduz, Liechtenstein, LGT is likely one of the world’s largest wealth managers and funding corporations. The banking big traces its historical past again to 1920 and has a key presence in Switzerland along with greater than 20 places of work across the globe.

LGT Bank’s entrance into crypto aligns with the agency’s dedication to fulfill the rising demand for funding alternatives, Liechtenstein’s LGT Bank CEO Roland Matt mentioned. 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 information additional reaffirms the continued pattern on world banks and asset managers more and more adopting funding companies for Bitcoin and different cryptocurrencies. On Monday, Argentina’s largest and second-largest personal banks, Banco Galicia and Brubank, introduced plans to allow crypto purchases for shoppers.

Related: German banking big Commerzbank applies for crypto license

As beforehand reported by Cointelegraph, a number of the world’s most distinguished banks made main strikes into Bitcoin in 2021, with Bank of New York Mellon asserting plans to carry and switch BTC as an asset supervisor on behalf of its shoppers in February. Other world banks like Argentina’s BBVA and U.S. Bank subsequently introduced the launch of comparable crypto funding companies.

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