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Swiss Bank Julius Baer Intends To Launch DeFi Services Within Three Years

Anna Martynova

According to the development strategy for the next three years, the Swiss bank 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 game-changer for clients looking to gain access to an emerging asset class. He believes that cryptocurrencies and especially decentralized finance (DeFi) have the potential to radically change the global financial sector in the next decade.

According to the head of the bank, it is now important to provide investors with the opportunity for long-term investments in digital assets. All the flaws of an outdated banking system can be rewritten with just a few lines of code.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.

Image: VOA Indonesia

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