Swiss asset management company Julius Baer has indicated that it is interested in decentralized finance and has expressed its willingness to offer its clients access to cryptocurrencies.
According to strategies development of Julius Baer for the next three years, the Swiss bank is ready to become a full-fledged participant in the cryptocurrency space. Julius Baer intends to conduct in-depth research in the field of cryptocurrencies, advise clients on investments in digital assets and integrate them into their asset management offerings. Julius Baer also plans to partner with cryptocurrency service providers to exchange fiat currencies while ensuring regulatory compliance.
Julius Baer CEO Philipp Rickenbacher noted that the recent downturn in the cryptocurrency market has been a “tipping point” for clients looking to gain access to an emerging asset class.
“It is quite possible that we are now witnessing the explosion of the cryptocurrency bubble. We know what happened when the dot-com bubble burst about 30 years ago. It paved the way for a new Internet that really changed our lives,” Rickenbacher said.
He believes that cryptocurrencies and especially decentralized finance (DeFi) have a similar potential and in the next decade can dramatically change the global financial sector. Therefore, it is now important to provide investors with the opportunity for long-term investments in digital assets. As Rickenbacher put it, all the flaws in an outdated banking system can be rewritten with just a few lines of code. Sooner or later, traditional finance will merge with the latest technology, CEO Julius Baer is sure.
Recall that last year, the Swiss digital bank Sygnum also announced plans to launch services for institutional investors to store and trade USDC stablecoin and several tokens.
Source: Bits
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