SEBA Bank granted the first Swiss digital asset custody licence

The bank will focus its efforts on creating an institutional-grade facility that can invest in crypto assets. SEBA Bank AG, a fully regulated Swiss-based bank that focuses on the offering digital cryptocurrency assets, today announced that it has been granted a CISA license by the Swiss Financial Market Authority (FINMA). This license will allow the bank to create an institutional-grade custodian facility for nation-native collective investments schemes. This endorsement will allow the institution more investment opportunities for professional clients in the emerging cryptocurrency markets. The firm was founded in mid-2018 with a focus on next-generation digital banking. It quickly rose to prominence as a pioneering institution in the regulated sector of digital assets. The bank received its banking and securities license in August 2019. This allowed them to introduce their SEBAwallet app, SEBAcard, and e-banking services to the market. They are now enjoying great business momentum as institutional adoption in crypto and digital assets accelerates worldwide. The French central bank Banque de France chose SEBA to participate at their digital Euro pilot project in mid-2020. This was to examine the feasibility of CBDCs in cross-border payments. Buehler also spoke out about the implications of obtaining the CISA licence for European adoption. Asset Managers now have the ability to offer strategies that are based on crypto or any other digital asset underlyings, to a wider audience by using Swiss-based mutual funds structures secured by SEBA Bank, the CISA-licensed custodian.

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