LGT is a financial institution owned by the princely House of Liechtenstein and is part of the largest family-owned banking group in the world. They will offer cryptocurrency custody and brokerage services to private clients, starting in Switzerland and Liechtenstein.
SEBA Bank, a Swiss-regulated digital asset services provider, will provide the crypto services to LGT's private banking and asset management group, which holds over CHF 280 billion in assets under management.
Initially, it will offer investment services for Bitcoin and Ethereum. The bank is in talks to add more coins as well as staking and yield earning possibilities, according to Mathias Schütz, SEBA's head of client and tech solutions.
"LGT is starting with their booking center in Liechtenstein for clients that are located in Liechtenstein and Switzerland", Schütz said in an interview. "This will see further expansion over the next couple of months."
"LGT is also seeing demand from relationship managers to expand the offering to Singapore and other locations", said Schütz. "For instance, they have a representative office in the UAE, in Dubai. So they also want to bring those locations into the play."