The well known Swiss Bank, the Julius Baer Group AG, announced to allow its users to access cryptos by partnering with SEBA. SEBA is building a progressive technological bridge between the traditional and the digital asset world, raised quite a handsome amount of $103 million back in September, 2018. The raised funds are to be poured into the project to allow the users the liberty to transact cryptos through the banking system.
The Swiss bank, Julius Baer, is among the very first banks to allow such a crypto transaction facility within the banking arena. During the tenure of the cryptos, there has been a major rush over the fact that cryptos need mass adoption real fast. This can be carried out if cryptos are readily available for the use, triggering easy access. The Swiss bank incorporating cryptos is a similar move that bears the potential to bring in a massive amount of users to buy into the crypto market. The Julius Baer Group possesses a total of 254 billion worth of assets under management in pure corporate banking terms
Recently J.P. Morgan came to limelight when they announced to launch their own blockchain based stable coin (backed by USD) that goes by the name of JPM Coin. JPM Coin will be used to settle payments and transactions for JPM’s institutional clients over the blockchain. Another big news graced the internet when Facebook also announced their own Facebook coin for their Whatsapp userbase. Through Facebook Coin transfer of money within a country and across the globe can be made easier for the general public.
Traditional finance analyst and crypto enthusiasts are terming these news a win for bitcoin since the financial institutions and big corporations are embracing blockchain, the technology behind bitcoin.
Julius Baer has been on the move to gather in millionaires out of Russia recently. This move has been conducted in order to get the reluctant millionaires to get their funds out of deposits and employ for beneficial purposes that will benefit them in the longer run. The data can also be useful in bringing more traffic, in terms of clients for the crypto platform and hence can provide with data to be used to draw in further users.
SEBA, a firm that provides the financially oriented consultancy has raised funds for the corporate cum crypto project for the Swiss bank. This will surely be a good omen for more crypto projects to get approved on expedited basis. The amount that SEBA has raised is quite astonishing along with higher goals and higher standards to meet. SEBA described it as follows,
“SEBA prides itself on cultivating deep, meaningful relationships with transformational leaders who value this interdependence”.
The Swiss bank incorporating in cryptos has opened up a new venue and new venture to tackle. Though with the advent of cryptos, nothing similar to what we do was possible. The new tactics will be designed for the bankers and the crypto dealers as they share the same stock shares for the monetary project. Both the contenders sitting on the same table does bug out one or another but this case is a win-win.
The future prospects for the project are sky high as it can initiate the crypto revolution eventually further allowing much users to come aboard as through the banking system, the crypto system is more exposed to a bank account holder.