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SEBA Bank Becomes The First Swiss Digital Asset Custody To Gain License

SEBA Bank AG is a fully regulated Swiss-based institution. Notably, it focuses on offering digital cryptocurrency assets.

The bank in a recent announcement reveals obtaining an approval of a CISA license from the Swiss Financial Market Authority, or FINMA.

Furthermore, this will assist the bank to offer services around nation-native collective investment programs.

Additionally, this is a breakthrough for the Bank. More so, It now becomes Switzerland’s and world’s first digital asset centric banks to gain a custody license.

Notably, This places the bank in a position for offer bigger investment opportunities. Especially to its professional clients in the growing cryptocurrency market industry.

In 2018, SEBA Bank AG goes live with the mindset of next-generation digital banking. Also, it goes ahead to become a major pioneer in the regulated digital asset sector.

SEBA bank Supports Cryptocurrencies

Meanwhile in August 2019, the bank receives its banking and securities firm license. Of course, this helped them to introduce their SEBAwallet app, e-banking service and SEBA card to market.

This is for supporting five major cryptocurrencies such as Bitcoin and Ethereum

CEO of SEBA Bank, Guido Buehler talks on the recent breakthrough
“Two years ago SEBA Bank received a Swiss banking and securities firm license and is now enjoying…”
“…excellent business momentum as institutional adoption of crypto & digital assets accelerates globally.”

Around mid-2020, France’s central bank Banque de France choose SEBA to participate in their experimental digital Euro pilot project. This is a targeted attempt to explore to possibilities of CBDC’s in cross-border payments.

Buehler comments more on the new license implications especially for European adoption…
“With our new CISA license, SEBA Bank continues its pioneering role in the institutional digital asset space.”

“Asset Managers can now offer strategies based on crypto or other digital asset underlying to a broader audience utilizing Swiss-based mutual fund structures secured by SEBA Bank as the CISA-licensed custodian.”

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.