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One of the largest banks in Switzerland will begin to provide cryptocurrency services

Banking giant from Switzerland Julius Baer announced cooperation with cryptocurrency startup SEBA Crypto AG, in which the Bank's customers will be provided with services related to cryptocurrencies.

The Julius Baer website reports that the SEBA project, founded in April 2018, is a pioneer in the financial industry, creating a technological bridge between the world of traditional and digital assets.

Julius Baer Bank is going to take advantage of SEBA's innovative platform to provide Julius Baer customers with advanced digital asset solutions to meet the growing demand. In particular, clients will be presented with solutions for storage, transactions and investments of cryptocurrencies.

The partnership will enter into force after SEBA obtains a license for banks and securities dealers in the Swiss financial markets supervision Authority (FINMA). The application was sent last summer and SEBA plans to start operations in the second quarter of 2019.

Also last year Julius Baer acquired a share in SEBA, the size of which is not disclosed.

"We are convinced that digital assets will become a legitimate class of sustainable assets in the investor's portfolio. The investment in SEBA, as well as our strong partnership, is proof of Julius Baer's involvement in digital assets and our commitment to making innovation accessible to our customers," said Peter Gerlach, head of markets at Julius Baer and a prospective member of the SEBA Board of Directors.

Julius Baer is one of the oldest and largest banks in Switzerland. Under his management is 400 billion Swiss francs (about $400 billion).