Monday, 03 August 2020

Swiss-based SEBA Bank launches focusing on crypto

Swiss-based SEBA Bank AG has opened for business allowing customers to access a full range of banking services.

This comes after the Swiss Financial Market Supervisory Authority FINMA granted SEBA a banking licence in October. As a result, SEBA has started the onboarding of customers in Switzerland.

Guido Bühler, CEO of SEBA Bank, 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 licence from FINMA. The start of operations as the first bank to focus on digital assets is another milestone.”

SEBA’s services are aimed at banks, asset managers, pension funds, companies and professional private investors.

In addition, a limited range of services is intended specifically for Swiss blockchain companies and their employees. SEBA gives these companies access to a corporate account with a Swiss bank, in the aim of closing a gap in the local ecosystem.

“We are on track towards creating a new banking experience and redefining the customer–bank relationship,” added Bühler. “Our customers should be able to take full advantage of the opportunities offered by the new asset classes without having to sacrifice security.”

SEBA’s aim is to combine traditional banking with the new crypto/digital world. Since its foundation in 2018, the bank has invested in new technologies and security.

Secure custody of digital assets is a critical success factor for the new bank. The idea is that customers can invest in both traditional assets, store them, trade them and take out loans.

Through the SEBAwallet app, E-banking and the SEBA card, customers can manage five cryptocurrencies. They can then convert these into traditional currencies and vice versa online.

Bühler said: ““The SEBA Card represents an important step towards the mass introduction of cryptocurrencies.”

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