Global private bank LGT to open Bitcoin and Ether trading

cointelegraph.com:

LGT Group, a top family-owned private banking and asset management group, is moving into cryptocurrency by launching Bitcoin (BTC) and Ether (ETH) investments at LGT Bank in Liechtenstein.

Managing over $292 billion of assets, LGT Bank is preparing to debut digital asset custody and trading services in cooperation with Swiss cryptocurrency bank Seba, according to a joint announcement released on Wednesday.

LGT Bank will initially offer custody and trading services for BTC and ETH, while Seba supports more than 14 cryptocurrencies, including altcoins like Litecoin (LTC), Polkadot (DOT), Tezos (XTZ), the Tether (USDT) stablecoin and others.

According to the announcement, LGT’s crypto services will be fully integrated with traditional assets, enabling clients to easily exchange assets in their existing portfolios. The new offering will be initially available to selected client groups of LGT Bank. In order to access the new services, clients must be based in Liechtenstein or Switzerland and be classified as professional clients or be managed by an external asset manager.

Headquartered in Vaduz, Liechtenstein, LGT is one of the world's largest wealth managers and investment companies. The banking giant traces its history back to 1920 and has a key presence in Switzerland in addition to more than 20 offices around the globe.

LGT Bank’s entrance into crypto aligns with the firm’s commitment to meet the increasing demand for investment opportunities, Liechtenstein’s LGT Bank CEO Roland Matt said. He added:

The news further reaffirms the ongoing trend on global banks and asset managers increasingly adopting investment services for Bitcoin and other cryptocurrencies. On Monday, Argentina’s largest and second-largest private banks,