The Swiss licensed SEBA Bank that’s offering crypto services including; asset management, trading, custody, and financing have just opened its doors to bridge the gap between the crypto world and traditional banking. They hit the market with a wallet app, e-banking, and card enable customers to easily convert between cryptocurrencies and traditional investments like stocks, bonds, and foreign exchange. The bank raised over 100M USD in April last year to build a licensed bank in just five short months.
SEBA bank HQ is located in Zug, Switzerland and on Tuesday, November 12th they announced that it’s now fully operational and fired up activities to onboard Swiss clients. SEBA bank obtained a banking and securities dealer license from the FINMA short for Swiss Financial Market Supervisory Authority. The licenses were acquired back in August and they began testing its products with a small group of clients.
Their website shows that they partnered up with Finstar, Smarttrade Technologies, Julius Bar, Jaeksoft Sarl, Geissbuhler Weber & Partner, Loomis International, and BPC. Aiming its services at it’s at professional investors, family offices, banks, asset managers, and blockchain companies.
Moreover, SEBA bank has also been exploring and developing solutions that allow tokenization in order to manage assets in a simple and cost-efficient way. Down the road, there are also plans to tokenize real estate, commodities, fiat, precious metals an event art. Lastly, they are also targeting companies that want to conduct a security token offering. By offering a range of products the bank aims to build a bridge between the traditional banking world and the new crypto world. For now their wallet app, e-banking do enable clients to manage and convert the following crypto’s Bitcoin, Ethereum, Ethereum Classic, Litecoin, and Stellar.
We are eagerly waiting to see how this will evolve in the time to come. It’s sure a move in the right direction for more adoption and one that adds more legitimacy to the crypto space!