Finst

SEBA and SGKB enable customers to trade Bitcoin and Ethereum

Bitcoin is circulating in the Swiss canton of St.

By Luc Vesters
• 2 min read
SEBA and SGKB enable customers to trade Bitcoin and Ethereum

Bitcoin is circulating in the Swiss canton of St. Gallen. Thanks to a partnership between SEBA Bank and St. Galler Kantonalbank (SGKB), customers of the financial institution can invest in cryptocurrencies.

Initially, trading will be limited to Bitcoin and Ethereum. Investments in other cryptocurrencies are also possible upon request. However, the service is currently only available to select customers. It is still unclear when and if the service will be available to all customers.

“The digital assets will be fully integrated into traditional investments, allowing SGKB clients to seamlessly integrate their cryptocurrencies into their existing portfolio,” the press release said.

The custody solution comes from SEBA Bank, which already collaborates with other financial institutions in this way. At the end of August, the financial institution sent out feelers to Southeast Asia, to Hong Kong. The bank has applied for a license from the responsible supervisory authority. Approval is expected by the end of the year.

The Swiss National Bank (SNB) also plans to issue a wholesale digital bank coin (CBDC).

Disclaimer: This content is for informational purposes only and does not constitute financial, investment, legal, or tax advice. The information provided may be incomplete, inaccurate, or outdated and should not be relied upon as such. Nothing on this website should be considered a recommendation to buy, sell, or hold any cryptocurrency. Investing in crypto-assets involves risk of loss.