SGKB Bank Expands Its Services To Allow Bitcoin Purchases and Custody for Retail

St. Galler Kantonalbank (SGKB) has recently started offering Bitcoin and digital asset services in response to the growing interest in Bitcoin. 

The bank has partnered with SEBA Bank to offer Bitcoin trading and custody services to its retail customers, reflecting the broader trend of adoption in the Swiss banking sector.

SGKB had previously introduced these services for its high net worth clients.

The partnership between SGKB and SEBA Bank was established earlier in the year and has evolved to enable SGKB to facilitate the trading and secure storage of Bitcoin and digital assets.

This development comes after the introduction of similar Bitcoin and cryptocurrency services by Zuger Kantonalbank in late October and Luzerner Kantonalbank in August.

Falk Kohlmann, Head of Market Services at SGKB, expressed enthusiasm about this development, stating that they are pleased to offer access to Bitcoin and the digital economy to a select group of customers.

This move enables SGKB clients to manage their Bitcoin and cryptocurrency holdings alongside their existing investments.

With SGKB, the fifth largest cantonal bank in Switzerland, entering the Bitcoin and cryptocurrency space, it highlights the ongoing shift towards mainstream adoption in the country.