Regulated Swiss Crypto Bank Opens Doors for Large Investors

November 13, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

The SEBA Bank AG (formerly SEBA Crypto AG) on Tuesday launched services for professional market participants and corporate clients.

According to the announcement, the financial institution has a fully regulated status in Switzerland, confirmed by the presence of its banking and dealer licenses by the Financial Market Supervision Authority (FINMA).

SEBA says its services are now available to new customers, which may include corporate entities, asset managers and professional private investors. Starting in December, the bank will attract customers from certain foreign jurisdictions.

“We are proud to have founded a bank within 18 months, raised CHF 100 million [$100.5 million] in capital from investors and obtained a banking and securities dealer license”, in a statement said SEBA CEO Guido Buhler, adding that customers should take full advantage of digital assets without sacrificing security.

The bank’s services include the SEBAwallet application, electronic banking services and the infrastructure for working with its own cards that support five leading cryptocurrencies: Bitcoin, Ethereum, Stellar, Litecoin and Ethereum Classic. Bank customers are given the opportunity to convert funds between cryptocurrencies and traditional currencies. Corporate clients represented by blockchain companies will gain access to dedicated bank accounts.

Author: Marko Vidrih