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The bank owned by the Princely House of Liechtenstein began offering cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. services in partnership with Switzerland-based SEBA Bank.
LGT Bank one of the world’s leading family-owned private banks, has begun offering cryptocurrency trading and custody services.
The financial institution of the Princely House of Liechtenstein announced the new commercial offer in a press release. press release publicado este miércoles. El nuevo servicio de corretaje y custodia de monedas digitales se produce en asociación con el banco de criptomonedas SEBA The new system, based in Switzerland, will be available to private customers in Switzerland and Liechtenstein.
As part of the alliance, SEBA Bank will provide cryptocurrency services to LGT, which has more than USD $290 billion in assets under management. It will initially be limited to brokerage and custody custody is a financial institution's legal capacity to keep and preserve financial assets for its clients to avoid asset theft or loss. of Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. (BTC) and Ether the form of payment used in the operation of the distribution application platform, Ethereum. (ETH) .
Liechtenstein Bank moves to Bitcoin
The new cryptocurrency services come in the face of growing widespread demand for the new asset class, said LGT in the statement. The bank added that the aim of its new offering is to be able to offer customers a “ simple way “investment in the two major cryptocurrencies. Although the institution is working to add more currencies as reported by CoinDesk .
“ We are very pleased to now be able to offer our customers convenient access to these markets, while maintaining the highest safety standards. “said Roland Matt, Managing Director of LGT Bank Liechtenstein, in the communiqué.
We have been working intensively on this offer. Cryptocurrencies are still in a dynamic development phase. Therefore, LGT first created the corresponding and necessary processes and framework for this type of investment.
Cryptocurrency services LGT will be fully integrated with traditional assets, allowing clients to easily swap assets between their portfolios. In addition, by offering a custodial custodial cryptocurrency businesses are the ones that are in possession of their customers’ funds for the duration of the use of their services. service, the company’s clients will be able to easily exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. assets between their portfolios. LGT “ don’t have to worry “The bank is responsible for issues such as keys or passwords, entrusting the security the term securities refers to a fungible and tradable financial instrument that carries a type of monetary value. to the bank.
The new offer will initially be available to select customer groups of LGT Bank . They should be classified as professional clients or be managed by an external asset manager, and be based in Liechtenstein or Switzerland.
However, in the face of customer demand in other regions, the bank has indicated it is working to expand the offer “ and make it more accessible “to customers.
Services will expand in the future
Además de agregar más opciones de criptomonedas y ampliar las zonas del servicio, el banco está analizando la incorporación de programas de staking participation in a proof-of-stake (PoS) system to put your tokens in to serve as a validator to the blockchain and receive rewards. (share) as well as yields, according to Mathias Schütz, head of technology and customer solutions for SEBA , a CoinDesk . “ This will see further expansion in the coming months “ he said, adding:
LGT is also seeing demand from relationship managers to expand the offering to Singapore and other locations. For example, they have a representative office in the United Arab Emirates, in Dubai. So they also want to bring those places to the site.
Con sede en Vaduz, Liechtenstein, LGT is one of the world’s largest investment firms and asset managers. The banking giant traces its history back to 1920 and has a key presence in Switzerland in addition to more than 20 offices around the world, including in Asia and the Middle East.
La entrada de LGT Bank to the cryptocurrency space comes at a time of growing interest and adoption among banks, fund managers and financial institutions around the world. In the United States, several cryptocurrency giants Wall Street have begun to make inroads into the sector, with banks such as Goldman Sachs offering exposure to Bitcoin y explorando diversas ofertas cripto.
- Five Star Bank in New York will allow customers to buy, sell and store Bitcoin after alliance with NYDIG
- German banking giant Commerzbank seeks to offer cryptocurrency custody services
- SEBA Bank applies to the Arc White List, the institutional DeFi a movement encouraging alternatives to traditional, centralized forms of financial services. platform a place to buy, sell and store cryptocurrency developed by Aave
Article by Hannah Estefania Perez / DiarioBitcoin
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