Global private bank LGT to open Bitcoin and Ether trading

LGT Group, a family-owned private bank and asset management company, has launched Bitcoin (BTC), and Ether (ETH), investments at LGT Bank Liechtenstein.

According to a joint announcement, LGT Bank, which manages more than $292 billion in assets, is planning to launch digital asset custody and trading services with Swiss cryptocurrency bank Seba.

LGT Bank will offer trading and custody services for BTC/ETH initially, while Seba supports over 14 cryptocurrencies, such as Litecoin, Polkadot, DOT, Tezos, XTZ, the Tether (USDT), and other stablecoins.

The announcement states that LGT’s cryptocurrency services will integrate with traditional assets. This will allow clients to exchange assets within their existing portfolios. LGT Bank will initially offer the new service to select client groups. Clients must be located in Liechtenstein and Switzerland to be eligible for the new services.

LGT, a world-leading wealth manager and investment company, is headquartered in Vaduz (Liechtenstein). This banking giant dates back to 1920. It has more than 20 offices worldwide and a significant presence in Switzerland.

Roland Matt, CEO of Liechtenstein’s LGT Bank said that the bank’s entry into crypto is in line with its commitment to meeting the growing demand for investment opportunities. He said:

“Our clients have also been more interested in cryptocurrencies over the past few years. We paid special attention to security and focused on clear, reliable processes. These are essential for managing this dynamic, yet still very young asset class.

This news confirms that global asset managers and banks are increasingly using investment services for Bitcoin and other cryptocurrency. Banco Galicia, Argentina’s second-largest and largest private banks respectively, announced Monday that they would allow clients to buy crypto.

Similar: Commerzbank, a German bank giant, applies for a crypto license

Cointelegraph previously reported that some of the most important banks in the world made significant moves in Bitcoin in 2021. Bank of New York Mellon announced plans to hold and transfer Bitcoin as an asset manager for its clients in February. Several other global banks, including the U.S. Bank and Argentina’s BBVA, announced similar crypto investment services.

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Eileen Wilson

Eileen Wilson –Technology and Energy My Name is Eileen Wilson with more than 5 years of experience in the Stock market industry, I am energetic about Technology news, started my career as an author then, later climbing my way up towards success into senior positions. I can consider myself as the backbone behind the success and growth of topmagazinewire.com with a dream to expand the reach out of the industry on a global scale. I am also a contributor and an editor of the Technology and Energy category. I experienced a critical analysis of companies and extracted the most noteworthy information for our vibrant investor network.

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