The Bank of the Princes of Liechtenstein opened access to crypto investments for clients – Bits Media

LGT Bank, part of the world's largest family-owned private banking group, with the support of the Swiss bank SEBA, has launched a cryptocurrency investment program.

The LGT Group is owned by the Princely House of Liechtenstein. The bank announced the conclusion partnership agreement with SEBA, the condition of which will be “acting as a cryptocurrency broker and operator of investment services”.

At the initial stage, Since May 2022 of the year, LGT Bank clients will have access to “direct investments” in two crypto-assets - bitcoins and ethers. Mandatory conditions - clients must “reside in Liechtenstein or Switzerland, as well as classify as professional investors or to be customers of external control assets ".

Head of Customer and Technical Solutions at SEBA Matthias Schütz (Mathias Schütz) reported, that “the parties are working to expand the offer and increase its availability”, and are also "in talks to add more variety of coins and investment bets".

Early March 2022 authorities of the Swiss city of Lugano announced the legalization of a limited list of cryptocurrencies – BTC, USDT and the city's own LVGA token – as legal tender. Authorities said, that citizens and companies in Lugano will be able to use these three assets to pay for all goods, services and taxes in the near future. When making transactions, cryptocurrencies will be automatically converted into Swiss francs through a third-party intermediary.