- St. Galler Kantonalbank (SGKB) plans to expand its crypto services.
- SGKB will offer Bitcoin and Ethereum trading with SEBA Bank’s help.
- SGKB’s move marks its initial entry into the digital asset space.
St. Galler Kantonalbank (SGKB), the fifth-largest cantonal bank in Switzerland, has recently garnered attention for its decision to expand its crypto services.
SGKB has plans to offer trading and custody services for Bitcoin
Banking on Wealth Management Clients
St. Galler Kantonalbank, established in 1868 and boasting 35 branches in eastern Switzerland, is broadening its horizons into digital assets, facilitated by SEBA Bank. The initial focus of this collaboration does not include retail customers or additional cryptocurrencies, but the bank has expressed interest in incorporating these elements in the future. Christian Beri, SEBA Bank’s Head of Investment Solutions, has also indicated plans to introduce more cryptocurrencies and staking services.
This development reflects a rising trend in Switzerland, as more banks are venturing into the cryptocurrency sector. Bieri recently mentioned in a discussion that SEBA Bank has onboarded its first retail-focused bank, marking significant progress for digital assets in the country. However, the bank’s primary customers will initially be those in wealth management.
Furthermore, SGKB’s partnership with SEBA Bank demonstrates its commitment to innovation and customer satisfaction. This marks SGKB’s initial entry into the digital asset space, enabling its clients to incorporate cryptocurrency investments into their portfolios seamlessly.
SGKB’s initial move to provide Bitcoin (BTC) and Ethereum (ETH) is a promising beginning, with further expansion anticipated depending on client interest.
