SEBA cryptocurrency bank launched in Switzerland

Swiss SEBA Bank AG said that corporate clients, asset managers and professional private investors can now open cryptocurrency accounts in the organization.

Next month, the bank plans to start attracting customers from a number of foreign jurisdictions. SEBA was founded in April 2018 and received
a banking license from the Swiss Financial Market Supervisory Authority (FINMA) in August this year.

“We are proud to have founded a bank in 18 months, raised $ 100.5 million from investors and obtained a license for banking and securities trading from FINMA,” said SEBA CEO Guido Buhler.

He added that bank customers should be able to make full use of digital assets “without sacrificing security.” SEBA said that the safe storage of digital assets is a “critical” factor in the success of the bank and customers can invest in both traditional and digital assets, store them, trade them and take loans through an integrated interface.

The bank offers the SEBAwallet wallet application, electronic banking services and SEBA cards with which customers can manage five cryptocurrencies (BTC, ETH, XLM, LTC and ETC) and convert them into traditional currencies and vice versa. SEBA cards can be used in 42 million retail outlets around the world.

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According to the statement, SEBA also provides corporate accounts to Swiss blockchain companies and their employees.

“They will be able to open accounts, store traditional and crypto assets, as well as tokenize assets in accordance with their needs. This is a new and extremely important step for the blockchain and the economy of digital assets, ”said Buhler.

Recall that in February it was reported
about SEBA bank’s plans to develop a blockchain solution for a mortgage.