According to an official update Switzerland-based cryptocurrency bank SEBA is now officially offering its Swiss customers accounts that handle digital as well as traditional, dubbing itself as “the first bank to focus on digital assets”.
The Swiss financial regulator awarded SEBA a banking license in August, along with another bank specializing in blockchain-powered digital assets, Sygnum. SEBA has now officially opened its doors for business in Switzerland.
Licensed in Switzerland, the bank’s crypto services include asset management, trading, custody, and financing. Its wallet app, e-banking, and card enable customers to convert between cryptocurrencies and traditional investments such as stocks, bonds, and foreign exchange.
"We are proud to have founded a bank within 18 months, raised CHF 100 million in capital from investors and obtained banking and securities dealer license from FINMA. We are on track towards creating a new banking experience and redefining the customer-bank relationship." - the CEO of SEBA bank, Guido Bühler said.
Crypto bank SEBA is confident of attracting a “three-digit” number of Swiss clients by the end of the year before setting its sights on global expansion and raising more than CHF100 million ($101 million) in extra funding from the public. The bank’s services can be accessed using the SEBAwallet app, e-banking, and the SEBA card, while transactions can be conducted using five distinct cryptocurrencies, including Bitcoin (BTC), Ether (ETH), Stellar (XLM), Litecoin (LTC), and Ether Classic (ETC).
SEBA Bank, which got regulatory approval from the Swiss Financial Market Supervisory Authority (FINMA), plans to bridge the gap between the crypto space and traditional banking by offering a variety of services.