LGT, a global private bank, has begun trading in Bitcoin and Ether.

LGT Bank and Seba, a Swiss crypto bank, have joined to provide Bitcoin and Ether custody and trading services.

The LGT Group, a leading family-owned private banking, and asset management firm, has entered the cryptocurrency market with the launch of Bitcoin (BTC) and Ether (ETH) investments at LGT Bank in Liechtenstein.

According to a joint announcement made on Wednesday, LGT Bank, which manages over $292 billion in assets, has launched digital asset custody and trading services in partnership with Seba, a Swiss cryptocurrency bank.

“Since May, LGT Bank has made direct Bitcoin and Ether investments available. “To provide this service, the private bank has formed a collaboration with Seba Bank, which will operate as broker and custodian,” Sandra Frank, chief marketing officer at Seba Bank, said.

LGT Bank will begin by providing BTC and ETH custody and trading services. Seba supports over 14 cryptocurrencies, including Litecoin (LTC), Polkadot (DOT), Tezos (XTZ), Tether (USDT), and others.

LGT’s crypto services will be completely linked with traditional assets, allowing clients to seamlessly swap assets in their existing portfolios, according to the release. LGT Bank’s selected client groups will be the first to benefit from the new service. Clients must be situated in Liechtenstein or Switzerland, be categorized as professional clients, or have their assets handled by an external asset manager to be eligible for the new services.

LGT is a global wealth management and investment firm headquartered in Vaduz, Liechtenstein. The financial behemoth was founded in 1920 and now has more than 20 locations across the world, including a significant presence in Switzerland.

According to LGT Bank CEO Roland Matt of Liechtenstein, the bank’s entry into crypto is in line with the firm’s goal to address the growing demand for investment alternatives.

The revelation adds to the growing trend of global banks and asset managers offering Bitcoin and other cryptocurrency investing options. On Monday, Banco Galicia and Brubank, Argentina’s largest and second-largest private banks, revealed intentions to allow clients to buy cryptocurrency.

As previously reported, several of the world’s most prestigious institutions made significant investments in Bitcoin in 2021, with Bank of New York Mellon announcing intentions to keep and transfer BTC on behalf of its clients in February. Following that, several major banks such as BBVA of Argentina and US Bank announced the development of comparable crypto investing services.