Major Private Bank LGT Enables Direct Investment In BTC And ETH

LGT bank, the largest family-owned private banking entity in the world, now offers direct investments in Bitcoin (BTC) and Ethereum (ETH) for its clients.

Liechtenstein’s leading private bank, LGT Bank, has partnered with SEBA Bank to offer direct investments in digital assets for its customers. The cryptocurrencies included in the initiative are Bitcoin and Ethereum.

According to the financial institution, the demand for digital assets has sharply gone up in recent years. To answer to the growing interest, LGT enabled its clients to invest directly in the two leading cryptocurrencies.

Roland Matt, the CEO of LGT, commented:

“We are very pleased that we can now offer our clients convenient access to these markets while upholding the highest security standards. We worked intensively on this offering. Cryptocurrencies are still in a stage of dynamic development. LGT therefore first created the corresponding, necessary processes, and framework for this type of investment.”

LGT clarified that the rules for investing in digital assets will be the same as investing in traditional assets. People will receive the same documentation for their tax returns, and that the funds can be easily accessed when they decide to sell. LGT’s clients don’t have to worry about private keys and passwords as the bank will store their holdings.

To start with, the direct crypto investment is only available for professional clients or customers of an eternal asset manager of LGT Bank based in Liechtenstein or Switzerland. However, the bank expects to bring the offering to more countries.

According to SEBA Bank’s CEO, Franz Bergmüller, the mix between LGT’s range of services and SEBA’s “highest security standards” will enable customers to delve into the cryptocurrency universe. “We are pleased to be able to support LGT in expanding its services for digital assets,” he concluded.