Liechtenstein-Based LGT Bank Launches Crypto Services With SEBA Bank

Key Insights:

• LGT Bank to launch crypto custody and trading services.
• Swizz-based SEBA Bank will provide its certified custody solutions with high-security standards.
• LGT will initially offer investment services for bitcoin and ether.

Liechtenstein’s largest family-owned private financial institution, LGT Bank, is setting foot in the crypto space. The bank will initially offer crypto custody and brokerage services to private clients.

In a Wednesday announcement, the bank noted that the Zug-based digital asset service provider, SEBA Bank, will provide its fully regulated comprehensive crypto services.

Initially, LGT plans to offer investment services for bitcoin (BTC) and ether (ETH), and crypto services will be integrated with traditional investments. This would allow clients to integrate cryptocurrencies into their portfolios.

Growing demand for crypto

Roland Matt, CEO of LGT Bank said that there has been growing demand for cryptocurrencies among their clients in the recent past. Security has always been a challenge in inculcating crypto products and services.

To start with, the crypto asset investment solutions will be initially available to Switzerland and Liechtenstein-domiciled clients.

In October, the digital asset service provider launched a product dubbed SEBA Earn, allowing clients to earn yields on their crypto holdings. Proof-of-stake protocols including polkadot (DOT), tezos (XTZ), and cardano (ADA) were added to the yield earning possibilities, with plans to add other assets depending on demand.