SEBA Bank becomes the first authorized custodian bank for cryptocurrencies in Switzerland

SEBA Bank has announced that it has obtained a CISA license from the Federal Financial Markets Authority (FINMA). In particular, the license granted to SEBA Bank is to allow the company to officially act as custodian bank for Swiss collective investment schemes. With this achievement, SEBA Bank will help advance the evolution of digital asset investments across Europe.

A bank already projected into the future

Of note, SEBA Bank is the first cryptocurrency firm in 2019 to obtain a banking license from the Swiss financial market regulator. This happened just a year after it started operating in mid-2018. After that, it launched its cryptocurrency services together.

With a brief description, SEBA Bank is a crypto company based in Switzerland that offers a secure and easy-to-use bridge between digital and traditional assets.

But if you do not have the possibility to access the services of the Swiss bank, you can still start trading Bitcoin, Ether and other cryptocurrencies with authorized platforms in our country such as Bitcoin Pro, which allows you to invest even with a minimum capital of $ 250.

Returning to SEBA, with the CISA license, asset managers can now provide strategies based on cryptocurrencies or other digital assets to a wider audience. In detail, institutional clients and retail clients can invest in liquid-based crypto assets through fund structures.

SEBA Bank CEO Guido Buehler shared his views on their recent success:

“With our new CISA license, SEBA Bank continues its pioneering role in the institutional digital assets space. Asset managers can now offer strategies based on cryptocurrencies or other digital assets to a wider audience using Swiss-based mutual fund structures guaranteed by SEBA Bank as a CISA licensed Custodian ”.

Expand your horizons

Earlier this year, SEBA expanded its services in the DeFi space by adding support for Chainlink (LINK) and Aave (AAVE) tokens.

Over the years, SEBA has collaborated with numerous companies in the blockchain sector. Likewise, it has conventional financial sectors to enhance its public offerings. As a result, the company has received large sums from investors to continue expanding its services.

SEBA is currently working on the development of its cold storage vault. The company is partnering with Switzerland-based Taurus and custodial technology partner, Fireblocks.

Plus, with Switzerland's regulatory clarity, cryptocurrency companies are basking in euphoria. Unlike countries like China, Australia, the United States and South Korea, whose regulators are initiating more hostile regulations for digital asset providers.

And what do you think of this evolution of the Swiss bank? Could this thing also be brought into local banks? Let us know what you think in the comments section below.