Crypto Investment Now Offered to Rich Clients by One of Oldest Swiss Banking Corporations
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The company located in Zurich has launched several pilot programs as it is offering its rich customers to try and invest in crypto or trade it. The company's chief, Philipp Rickenbacher, believes that the current turmoil on the cryptocurrency market may be a turning point compared to the time when the dotcom bubble burst 30 years ago.
Back then, he stated, after that a new sector emerged that transformed life for humanity. The same may happen now with the crypto and DeFi sectors, he believes, as they hold the same potential as Internet companies in the late 90s.
Unlike Baer, another major financial institution based in Zurich, UBS Group AG, one of the largest wealth management companies in the world, prefers to stay away from digital assets, calling them "speculative."
Their CEO, Ralph Hamers, said that the bank's customers are not interested in the "speculative asset class," and the bank does not advise on speculation. Besides, according to the bank's chief investment office, crypto has failed to succeed as an inflation hedge or a way to diversify one's portfolio.
Aside from the current crypto offer for its customers, Julius Baer has also invested in SEBA Crypto AG – one of the two crypto banks in Switzerland that are under full regulation.
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