LGT Bank enables investments in cryptocurrencies
LGT Bank is offering direct investments in bitcoin and ether cryptocurrencies from May onward according to a press release from the bank owned by the princely House of Liechtenstein. In doing so it aims to respond to the increased demand over recent years. LGT Bank is working with SEBA Bank from Zug to achieve this. LGT Bank explains that it will act as a broker and depositary.
Roland Matt, CEO of LGT Bank, Liechtenstein, states in the press release: “Cryptocurrencies are still in a stage of dynamic development. LGT therefore first created the corresponding, necessary processes and framework for this type of investment.”
Franz Bergmüller, CEO of SEBA Bank, explains in the press release that the partnering SEBA Bank has the “expertise, established processes and, above all, a custody solution that is ISAE-certified and established by independent bodies. He adds: “As a licensed and FINMA-regulated Swiss bank with a core competence in cryptocurrencies and digital assets, we enable banks and their clients to handle traditional and digital assets securely.”
In the initial stage, the offer will only be available to Liechtenstein-based or Switzerland-based professional clients or clients with an asset manager. However, LGT Bank is already working on expanding the offer according to the press release.