132-year-old Swiss bank will now offer crypto services
Julius Baer Group, one of the oldest banking services in Switzerland, considers the current turmoil in the crypto market as a 'potentially defining moment'
By Shashank Bhardwaj
Image: Shutterstock
Zurich-based Julius Baer Group, a 132-year-old private banking services provider, recently announced that the bank will provide crypto services to its wealthy clients. The bank has already initiated pilot programs on guidance, trading, and investments in cryptocurrencies for its rich clients.
The bank considers its new strategy as rightly timed at a ‘potentially defining moment’ for the digital asset sector. CEO Philipp Rickenbacher presented his views on the current state of crypto markets during an investor presentation, saying “It could well be at this very instant that we are witnessing a bubble-burst moment of the crypto-industry, and we all know what happened after the dot-com bubble burst 30 years ago. It paved the way for the emergence of a new sector that indeed transformed our lives.”

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