LGT Group, a high-profile family-owned private banking, and asset management group, is reportedly establishing its presence across the crypto sphere, via releasing BTC and Ether investments in Lichtenstein.

Specifically, with more than $292 billion of assets under management, LGT Bank has officially introduced digital asset custody and trading services, by coordinating with the crypto bank from Switzerland, Seba. 

“LGT Bank has been offering direct investments in Bitcoin and Ether since May. The private bank has entered into a partnership with Seba Bank, which will act as broker and custodian to provide this service,” Seba Bank’s chief marketing officer Sandra Frank, reportedly revealed. 

In this initial phase, LGT Bank will reportedly roll out custody and trading services for BTC and ETH. Seba offers facilitating features for over 14 cryptocurrencies, including altcoins such as Litecoin (LTC), Polkadot (DOT), Tezos (XTZ), the Tether (USDT) stablecoin, and others.

Per the announcement, the full integration of LGT’s crypto services and traditional assets is going to be finalized, offering a simplified measure for customers to exchange assets in their current portfolios.

The new service will be available to particular chosen customer groups of LGT Bank. To tap into the new offerings, it is mandatory for the clients to operate in Liechtenstein or Switzerland, and be classified as professional clients or be managed by an external asset manager.

Situated in Vaduz, Liechtenstein, LGT is reportedly among the major wealth managers and investment entities throughout the globe. 

The banking heavyweight traces its history back to 1920 and has a key presence in Switzerland as well as in over 20 nations across the world.

LGT Bank’s decision to step into the crypto sphere reportedly resonates with the commitment made by the company to satisfy the rising demand in terms of investment opportunities. 

“The demand for cryptocurrencies has also increased among our clients in recent years. When developing our new offering, we paid particular attention to security while focusing on clear, reliable processes and procedures. They are central for dealing with this dynamic and still quite young asset class.” Liechtenstein’s LGT Bank CEO Roland Matt further remarked.