One of the oldest banking institutions in Switzerland, wealth manager Julius Baer will begin offering bitcoin and other cryptocurrency products to high-net-worth individuals. Julius Baer Eyes Crypto Sector According to a report from Bloomberg, Julius Baer Group, the Swiss private bank with over $110 billion in AUM as of 2021 revealed that it will offer digital asset services to high-ended clients. A pilot program has been currently undergoing to test token booking, trading, and compliance. The group will integrate cryptocurrencies into its wealth management services by first offering relevant advice and research to its targeted clients. The bank’s CEO Philipp Rickenbacher compared the current turmoil of the crypto market to the dot-com bubble burst in the early 2000s. “It could well be that at this very instant we are witnessing a bubble-burst moment of the crypto industry, and we all know what happened after the dot-com bubble burst 30 years ago,” said CEO of Julius Baer Philipp Rickenbacher during a presentation to investors. Buying a Stake in SEBA Crypto AG Julius Baer has taken a stake in SEBA Crypto AG, one of only two fully-regulated crypto banks in Switzerland. When investing in SEBA in 2019, Julius Baer noted that they were convinced that bitcoin and other cryptocurrencies would become a “legitimate sustainable asset class of an investor’s portfolio.” Through this partnership, Baer noted at the time that it would exten...
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