Julius Baer is set to offer cryptocurrency products, and even DeFi services in the future, to high-net-worth clients.
Julius Baer Group – the Swiss private bank with over $110 billion in AUM as of 2021 – revealed that it will offer digital asset services to high-ended clients. A pilot program has been currently installed to test token booking, trading, and compliance. The group will integrate cryptocurrencies into its wealth management services by first offering relevant advice and research to its targeted clients.
“It paved the way for the emergence of a new sector that indeed transformed our lives; I believe digital assets and decentralized finance hold that same potential,”focusing on the cycle from 2023 to 2025, Rickenbacher highlighted that the firm will keep a close eye on the rise of digital assets and explore what opportunities the sector could present.
“Integrating digital assets into its holistic wealth management proposition will position Julius Baer firmly at the interface of digital assets and the fiat world. The Group is well-prepared to successfully navigate both its clients and its business through the disruptions decentralised finance will inevitably pose.”
Rickenbacher expressed a bullish outlook of DeFi, as he stated that the sector could potentially disrupt the “traditional cost-heavy and complex parts of the old banking system.”
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