Swiss crypto market is destined for greatness and we project massive growth in the coming months following access to basic banking services. This means that cryptocurrency investors and traders in the country will be able to access crypto services in the conventional banks.
Swiss Crypto Users Can Now Access Banking Services
In a recent interview, the CEO of Seba, Switzerland first bank, the cryptocurrency community in the country will not be able to enjoy stable and secure banking services. One of the challenges that cryptocurrency startups have been facing for many months is convincing a conventional financial institution to process payments in the country.
This hindrance can be blamed for the slow growth of the Swiss cryptocurrency industry. Luckily, access to banking services will make it possible for thousands of crypto investors to invest more in their preferred digital currency freely.
In October 2018, Seba managed to raise more than $103 million from investors and recently partnered with Julius Baer. Julius Baer is the largest private bank in Switzerland and is in the front line advocating for more provision of banking services to cryptocurrency community. The partnership will give the clients of this financial institution access to cryptocurrencies.
Since Julius Baer is highly regulated by the national financial regulator, Seba involvement in the cryptocurrency industry will also be monitored continuously to ensure that it complies with all the stipulated regulations. Seba will now start offering robust banking services to startups and companies in Switzerland that deal with cryptocurrencies
The provision of banking services will make it possible for crypto companies to operate smoothly and without worrying about financial barriers. That is, they will be able to sign contracts with interested parties and access their funds easily.
In a recent statement released to the press, the CEO states that the bank will offer custody storage and transaction banking services to clients. He went ahead to state that the bank understands the challenges that entrepreneurs and startups face when trying to open bank accounts in the country. Seba is optimistic that their provision of these services will help Switzerland get in the list of the top crypto nations in the world in the next half a decade. To achieve that goal, they have to work smart and offer banking services that resonate with the needs of the large crypto community.
Seba’s bold move to start providing banking services to Swiss crypto community is a step in the right direction. In the next few months, we expect to see rapid growth in the country as well as increase in number of businesses providing one or more cryptocurrency services in the country. Get more cryptocurrency news here.