The leading private bank in Liechtenstein – LGT Bank – partnered with SEBA Bank to offer direct investments in digital assets for its customers. The cryptocurrencies included in the initiative are the two largest by market capitalization – bitcoin (BTC) and ether (ETH). LGT Enters the Crypto Ecosystem The financial institution noted that the demand for digital assets has risen “sharply” in recent years. To cope with the growing interest, LGT allowed its clients to invest directly in two cryptocurrencies – bitcoin and ether (against the US dollar). Commenting on the matter was Roland Matt – CEO of the bank: “We are very pleased that we can now offer our clients convenient access to these markets while upholding the highest security standards. We worked intensively on this
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The leading private bank in Liechtenstein – LGT Bank – partnered with SEBA Bank to offer direct investments in digital assets for its customers. The cryptocurrencies included in the initiative are the two largest by market capitalization – bitcoin (BTC) and ether (ETH).
LGT Enters the Crypto Ecosystem
The financial institution noted that the demand for digital assets has risen “sharply” in recent years. To cope with the growing interest, LGT allowed its clients to invest directly in two cryptocurrencies – bitcoin and ether (against the US dollar). Commenting on the matter was Roland Matt – CEO of the bank:
“We are very pleased that we can now offer our clients convenient access to these markets while upholding the highest security standards. We worked intensively on this offering. Cryptocurrencies are still in a stage of dynamic development. LGT therefore first created the corresponding, necessary processes, and framework for this type of investment.”
LGT explained that the rules for investing in cryptocurrencies will be the same as investing in traditional assets. People will receive the same documentation for their tax returns, while the funds can be easily accessed when they sell. LGT clients won’t have to worry about private keys and passwords as the bank will store their holdings.
Initially, the opportunity is only available for selected customers (professional clients or customers of an eternal asset manager) of LGT Bank based in Liechtenstein or Switzerland. Due to the demand in other areas, the bank seeks to expand the offering to more countries.
LGT’s partner in the crypto move is the Swiss digital asset company – SEBA Bank. The latter’s CEO – Franz Bergmüller – said the mixture between LGT’s range of services and SEBA’s “highest security standards” will enable customers to delve into the cryptocurrency universe.
“We are pleased to be able to support LGT in expanding its services for digital assets,” he concluded.
SEBA Predicted That BTC Will Reach $75K in 2022
Earlier this year, the former Chief Executive Officer of SEBA Bank – Guido Buehler – stated that the company had conducted a research, estimating that bitcoin’s price could hit a new all-time high by the end of the year. The institution envisioned a USD valuation between $50,000 and $75,000:
“Our internal valuation models indicate a price right now between $50,000 and $75,000. I’m quite confident we are going to see that level. The question is always timing.”
According to Buehler, the surge in the price will be fueled by the growing interest from institutional investors, and LGT’s move confirms this narrative.