LGT Bank, the leading private bank of Liechtenstein, has partnered up with SEBA Bank to provide direct investments in digital assets to its customers. These cryptocurrencies include bitcoin (BTC), and ether (ETH) as the largest by market capitalization.
LGT enters the Crypto Ecosystem
According to the financial institution, digital assets have been in high demand over recent years. LGT offered its clients the opportunity to invest in bitcoin and ether, both cryptocurrencies that are cheaper than the US dollar. Roland Matt, CEO of the bank, commented on the matter:
“We are delighted to be able to offer our clients easy access and maintain the highest security standards. This offering was a labor of love. The cryptocurrencies stage is still in dynamic development. LGT was the first to create the necessary processes and frameworks for this type investment.
LGT stated that investing in cryptocurrency will follow the same rules as traditional assets. The same documentation will be provided for tax returns. However, the funds can be accessed easily when the client sells. LGT clients will not need to worry about passwords and private keys as the bank will keep their holdings.
The opportunity is initially only available to selected customers (professional clients and customers of an eternal assets manager) of LGT Bank, based in Liechtenstein/Switzerland. The bank is expanding its offering to other countries due to increased demand.
The partner of LGT in the crypto move was the Swiss digital asset firm SEBA Bank. Franz Bergmuller, the CEO of the latter, stated that customers will be able to explore the cryptocurrency world by combining the services offered by LGT and the security measures set forth at SEBA.
He concluded that “We are happy to be able support LGT in expanding their services for digital assets”
SEBA predicts that BTC will reach $75K by 2022
Guido Buehler, former chief executive officer of SEBA Bank, stated earlier this year that they had done a study and estimated that bitcoin’s value could reach a new all time high by the end. According to the institution, a USD valuation of between $50,000 and $75,000 was possible.
“Our internal valuation models suggest a price range of $50,000 to $75,000. “Our internal valuation models indicate a price right now between $50,000 and $75,000. I am quite certain we will see that level. Timing is everything.
Buehler says that the rising price will be driven by institutional investors’ growing interest. LGT’s move supports this theory.
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