Julius Baer offers the customers of crypto-currency investment product
It seems that the largest and oldest in Switzerland, the management company assets has sharply revised its attitude towards cryptocurrencies.
For a giant like Julius Baer, in English-speaking countries better known as Julius Baer, the release of some bound to the blockchain-technologies securities even with a circulation of 20 thousand and $1 thousand is likely a trial balloon. But here again the case when an important precedent.
In December, the blog featured posts with the title “Stay away from bitcoin and other cryptocurrencies”, and the sudden change of the vector.
Leaked documents suggest that Julius Baer has developed a your investment tool in conjunction with cryptoanalytical company Asset Management Block.
Together they have developed an investment product does not fall under the jurisdiction of the Swiss regulator FINMA. That is willing to invest in this product is not subject to Swiss standards of investor protection.
As of the fixing date listed Oct 16 — the company shall finally decide with an initial value and mix of assets underlying a new investment product.
Date of product release — October 30, and subscription to a new product launched on 16 August and will end on October 16.
If information about the interest of the Julius Baer to the crypt and the willingness to offer customers investment products based on it are confirmed, it will make the company one of the largest players in the traditional market, dared to try out a new field.
Julius Baer Group Ltd — one of the largest and oldest private banks in Switzerland, which was founded in 1890. Pipit group — asset management customers from around the world. Recent events around the Bank can distinguish the fine imposed by the U.S. Department of justice in the amount of $547 million, which the Bank has agreed to pay. The payment was part of a settlement agreement in the case of assistance in tax evasion to U.S. citizens.
As of June 30, 2018 under the control of the Bank contained assets with a total cost 399,9 billion Swiss francs (more than $400 billion).