financemagnates.com
To grow its international presence, Switzerland-based digital assets banking platform, SEBA Bank today announced that the company has raised CHF 110 million in a Series C investment round. The FINMA-licensed platform is planning to fuel its institutional business through the latest funding.
Moreover, the company aims to accelerate its expansion in APAC and the Middle East. The details shared by the company highlight significant interest from investors for its Series C funding round. According to SEBA Bank, the round was oversubscribed with increased investment from Julius Baer, SEBA’s existing investor.
A consortium of specialized blockchain and fintech investors, including Altive, Ordway Selections, and Summer Capital co-led the latest financing. Additionally, Alameda Research and DeFi Technologies also joined the investment round.
“With the support of such a strong group of investors, offering depth and breadth across the domains of finance, fintech, and blockchain, SEBA Bank is privileged to access a wide range of new skills and capabilities to fast-forward our growth plans. This funding will allow us to further develop our digital asset banking platform and strengthen our presence in markets across the globe by attracting new talent,” Guido Buehler, CEO at SEBA Bank, commented.
Last year, SEBA Bank gained a custodian license from FINMA. In April 2021, the digital assets banking platform joined SIX as a crypto ETP issuer.
Swiss Crypto Ecosystem
Crypto companies are flourishing in Switzerland. In September last year, FINMA announced the approval of the first cryptocurrency fund. In the last 12 months, the Swiss Stock Exchange welcomed several new crypto ETP issuers.
Cheney Cheng, the Managing Partner of Altive, said: “Given the global regulatory trend of digital assets, we envision that regulated crypto financial institutions like Swiss licensed SEBA Bank would become the cornerstone of the future finance. We are honored to have joined the company’s mission to make digital assets more accessible to the general public.”