One of the oldest banks in Switzerland has started offering cryptocurrencies to its customers

Julius Baer Group, one of the oldest financial companies in Switzerland, is offering crypto services to its wealthy clients.

According to Bloomberg, the Zurich-headquartered private bank sees the current turmoil in the cryptocurrency markets as a «potentially defining moment» for digital assets.

In a statement about the bank’s updated strategy, Julius Baer aims to present itself at the intersection of «digital assets and the fiat world.» CEO Philipp Rickenbacher said during the presentation to investors:

«It may well be that we are witnessing the moment of the bursting of the bubble in the crypto industry at this moment, and we all know what happened after the dotcom bubble burst 30 years ago. It paved the way for the emergence of a new sector that really changed our lives.»

Rickenbacher seems to be confident in the bright future of cryptocurrencies: «They will change the financial sector over the next ten years, and it is important for us to gain a foothold in this area. That is why now is the right time to invest in digital assets.»