The main personal financial institution in Liechtenstein – LGT Financial institution – partnered with SEBA Financial institution to supply direct investments in digital property for its prospects. The cryptocurrencies included within the initiative are the 2 largest by market capitalization – bitcoin (BTC) and ether (ETH).
LGT Enters the Crypto Ecosystem
The monetary establishment famous that the demand for digital property has risen “sharply” in recent times. To deal with the rising curiosity, LGT allowed its shoppers to take a position instantly in two cryptocurrencies – bitcoin and ether (towards the US greenback). Commenting on the matter was Roland Matt – CEO of the financial institution:
“We’re more than happy that we are able to now provide our shoppers handy entry to those markets whereas upholding the very best safety requirements. We labored intensively on this providing. Cryptocurrencies are nonetheless in a stage of dynamic improvement. LGT due to this fact first created the corresponding, obligatory processes, and framework for this kind of funding.”
LGT defined that the foundations for investing in cryptocurrencies would be the similar as investing in conventional property. Folks will obtain the identical documentation for his or her tax returns, whereas the funds will be simply accessed after they promote. LGT shoppers gained’t have to fret about personal keys and passwords because the financial institution will retailer their holdings.
Initially, the chance is simply out there for chosen prospects (skilled shoppers or prospects of an everlasting asset supervisor) of LGT Financial institution based mostly in Liechtenstein or Switzerland. As a result of demand in different areas, the financial institution seeks to broaden the providing to extra nations.
LGT’s companion within the crypto transfer is the Swiss digital asset firm – SEBA Financial institution. The latter’s CEO – Franz Bergmüller – mentioned the combination between LGT’s vary of providers and SEBA’s “highest safety requirements” will allow prospects to delve into the cryptocurrency universe.
“We’re happy to have the ability to assist LGT in increasing its providers for digital property,” he concluded.
SEBA Predicted That BTC Will Attain $75K in 2022
Earlier this yr, the previous Chief Government Officer of SEBA Financial institution – Guido Buehler – stated that the corporate had performed a analysis, estimating that bitcoin’s worth may hit a brand new all-time excessive by the tip of the yr. The establishment envisioned a USD valuation between $50,000 and $75,000:
“Our inside valuation fashions point out a worth proper now between $50,000 and $75,000. I’m fairly assured we’re going to see that degree. The query is at all times timing.”
In response to Buehler, the surge within the worth will likely be fueled by the rising curiosity from institutional traders, and LGT’s transfer confirms this narrative.