Swiss Bank Ventures into Crypto with Bitcoin and Ether Services in Partnership with SEBA

St. Galler Kantonalbank, one of Switzerland's prominent cantonal banks, has ventured into the world of digital assets in collaboration with SEBA Bank. The partnership introduces an array of crypto services, encompassing custody and trading, with a primary focus on bitcoin and ether.

This strategic move marks the first stride for St. Galler Kantonalbank into the digital asset landscape. Their aim is to enable their clients to seamlessly incorporate cryptocurrencies into their existing investment portfolios.

SEBA Bank, holding a Swiss banking license issued by the country's financial markets regulator FINMA, is playing a pivotal role in offering digital asset brokerage and custody services for St. Galler Kantonalbank. This partnership ensures clients have easy access to cryptocurrencies, beginning with bitcoin and ether, while remaining flexible to meet evolving client demands.

Falk Kohlmann, Head of Market Services at St. Galler Kantonalbank, expressed the institution's commitment to aligning services with client requirements. The partnership was formalized earlier this year, culminating in this significant entry into the digital asset sphere.

St. Galler Kantonalbank is one of the 24 Swiss cantonal banks, characterized as commercial entities with partial federal government ownership. In contrast, SEBA Bank has established itself as a prominent crypto-focused institution with a reputable Swiss banking license from FINMA. Beyond this collaboration, SEBA Bank is renowned for its provision of digital asset services to various banking institutions, including private and retail banks such as LGT Bank Liechtenstein and Julius Baer Bank.