” At Julius Baer, we are convinced that digital assets will become a legitimate sustainable asset class of an investor portfolio” Peter Gerlach
As recently as a month ago one of the major Swiss Private Banks – Julius Baer, with 382 bln CHF AUM has started offering digital assets to its clients. The Swiss bank is doing that via Seba Crypto, a Zug based firm in which they already hold a stake. The official statement can be found here.
Food for thought
I wrote about two years ago that “traditional” financial institutions will not be in a position to stop the change that will be brought up by blockchain and distributed ledger technology and they are better off to adapt and accept that things are changing. Although the last twelve months have not been particularly good for crypto currencies, major financial players seem to be embracing a lucrative opportunity to grow their stagnating revenues. Such announcements, need to be taken with a pinch of salt, however it is true that without representing any physical store of value crypto currencies become more and more mainstream. In private banking, where competition is getting tougher it is important to benefit from first mover advantage. Interesting space to watch. One thing for sure finance and investment are changing altogether. Get ready!
About the author
Boris Grozev is a seasoned fintech executive. Entrepreneur by heart Boris has helped number of businesses to create and implement business development and product strategies. His advisory work in Emerging and Frontier markets has promoted culture and technology change, fostered innovation and lead to tangible results. He invests in variety of asset classes. Boris is a fast learner, whose leadership abilities, ambition, stamina, passion to succeed and attitude naturally spread to others helping to achieve common goals.
