Private investment bank LGT, with over $290 billion USD in assets under its management, announced on Wednesday, May 4, that it will be offering direct cryptocurrency investment opportunities to its clients. To make this possible, it is partnering with SEBA, a Swiss bank that will act as a broker and custodian.

LGT Bank Liechtenstein clients can now invest directly in Bitcoin and Ether – thanks to a cooperation with @WeAreSEBA. #investmentstrategies #blockchain https://t.co/CmutZfceBf

— LGT Private Banking (@followlgt) May 4, 2022

As announced, the banks will initially offer investment services in Bitcoin (BTC) and Ethereum (ETH) — with plans to roll out additional cryptocurrencies depending on client response to the new offering. The custodial services of SEBA are highly secure and will make the ownership of these digital assets more accessible and easily integrated into clients’ existing portfolios.

SEBA Bank currently offers several means of digital asset investments, like the ability to trade over 14 cryptocurrencies, a crypto yield program, and its very own “SEBA Gold Token,” which is backed by physical Swiss gold. The bank uses ISAE 3402 certified hot and cold storage custody solutions for the safekeeping of its client’s digital assets and private keys. These same security measures will be used in the LGT offering, meaning investors still control their own crypto wallets and private keys with additional security placed around them.

The news comes as several other private and public investment banks step further into the realm of digital assets, creating a bridge between decentralized finance (DeFi) and traditional finance. Recently, BlackRock launched a new blockchain ETF, while Fidelity also launched its own crypto and metaverse ETFs, as well as an industry-first BTC 401(k).

In case you missed it: Polkadot launched cross-chain messaging with its XCM format.