Regulated Swiss Crypto Bank SEBA Opens Doors
Marie Huillet's original article for cointelegraph.com reduced by 45%
Switzerland-based cryptocurrency bank SEBA has launched its services for professional investors and enterprise clients, according to an official news release published on Nov. 12. As reported, SEBA Bank AG is a fully-regulated institution, having secured a banking and securities dealer license from the Swiss Financial Market Supervisory Authority in August of this year.
In a statement, SEBA CEO Guido Buhler emphasized that those opening an account with SEBA should be able to take full advantage of the digital asset sector's potential without having to sacrifice security. "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 license." As part of its account services, SEBA is offering a SEBAwallet app, e-banking services and SEBA card facilities, with support for five major cryptocurrencies:, Ether, Stellar, Litecoin and Ether Classic. The bank provides investors with both crypto-crypto and crypto-fiat conversion services online and SEBA cards are supported at 42 million points of sale globally, paving the way for the "Mass introduction of cryptocurrencies," according to Buhler.
As reported, fellow Swiss cryptocurrency bank Sygum - which was also issued a banking and securities dealer license from FINMA in August - has in parallel conducted negotiations with regulators to seal a banking license in Singapore.
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