Fully regulated Swiss-based SEBA Bank today announced they have received approval for a CISA license from the Swiss Financial Market Authority, or FINMA. The bank that has a focus on the offering of digital cryptocurrency assets, can now facilitate institutional-grade custodian services for nation-native collective investment schemes.
SEBA Bank is now Switzerland’s, and also one of the world’s first, banks to have a custody license. With their CISA license the bank can now offer a more inclusive range of investment opportunities to professional clientele in the growing crypto markets.
Guido Buehler, Chief Executive Officer of SEBA Bank, Guido Buehler said the following about this milestone:
“Two years ago SEBA Bank received a Swiss banking and securities firm license and is now enjoying excellent business momentum as institutional adoption of crypto & digital assets accelerates globally.”
On the implications of the license approval for the rest of Europe, Buehler noted:
“With our new CISA license, SEBA Bank continues its pioneering role in the institutional digital asset space. Asset Managers can now offer strategies based on crypto or other digital asset underlyings to a broader audience utilizing Swiss-based mutual fund structures secured by SEBA Bank as the CISA-licensed custodian.”
SEBA bank was founded in the summer of 2018. The banks quickly rose to a leading pioneer in the regulated digital asset market, by advocating a philosophy of next-generation digital banking. In August 2019, the bank received their banking license and since have introduced their SEBAwallet app, e-banking service and SEBA card to customers. The card supports five major cryptocurrencies including Bitcoin and Ethereum.
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Source: Igaming
