SEBA Launches Crypto Banking Services in Switzerland

The company gained a license from FINMA earlier this year.

Swiss crypto-focused bank SEBA Crypto AG on Tuesday announced the launch of its digital asset-based banking services.

This came amid the bank’s acquisition of a banking and securities dealers’ license from the Swiss Financial Market Supervisory Authority (FINMA) in August.

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Per the announcement, the company will offer banking services to banks, asset managers, pension funds, companies, and professional private investors. In addition to that, it will also offer a limited range of services to blockchain companies based in the country.

Bridging the gap between crypto and banking

The company aims to bring banking services to these companies by providing corporate accounts necessary for their operations. It will also provide services to tokenize investment products, real assets, and rights.

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Commenting on the development, Guido Bühler, chief executive of SEBA, said: “We are proud to have founded a bank within 18 months, raised CHF 100 million in capital from investors and obtained a banking and securities dealer license from FINMA.”

“The start of operations as the first bank to focus on digital assets is another milestone. We are on track towards creating a new banking experience and redefining the customer–bank relationship. Our customers should be able to take full advantage of the opportunities offered by the new asset classes without having to sacrifice security.”

The Zug-based company also offers e-banking services and a SEBA card, which allows customers to store and manage five major digital currencies – Bitcoin, Ether, Stellar, Litecoin, Ether Classic.

Meanwhile, another Swiss crypto bank – Sygnum – which also gained the same license with SEBA, is also gearing up to launch services in the jurisdiction. In addition to FINMA’s license, it also gained a capital markets services (CMS) license from the regulators in Singapore to tap the Asian market as well.

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