Swiss crypto-bank SEBA seeks to raise an additional € 90M

SEBA Bank, a Swiss bank specializing in cryptocurrency, plans to lift 90 million euros to accelerate its development.

During an interview with FinancialLondon, the CEO-co-founder of SEBA, Guido Buehler, said the bank was looking to collect 100 million Swiss francs (around 90 million euros) from new investors, including familly offices, financial institutions and individuals.

If we want to grow and have ambitious plans, we need to have additional capital, ”he said.

Founded by former UBS executives, the Swiss bank has already raised 88 million euros with private investors in 2018. This fall, after obtaining a banking license, she launched her crypto services in Switzerland, followed, in December, by a launch in a dozen new countries, particularly in France.

Based in the crypto-valley in Zug, SEBA offers a wide range of services in the fields of management, trading, custody and financing, for digital assets.

I always say that we are a universal bank for the new economy. I am convinced that in five years or 10 years, everything will be on the [blockchain], because the costs are drastically reduced, ”added Buehler.

Although the Swiss one of the most "crypto-friendly" countries in Europe, the local regulator FINMA recently warned of the increased risk of money laundering from this new asset class.