coinquora.com
- SEBA Bank issued the first digital asset custody license in Switzerland.
- The bank will now focus on creating digital crypto assets.
- SEBA continues to partner with institutions to create crypto assets facilities.
SEBA Bank announced today that it has been granted a CISA license from the Swiss Financial Market Authority (FINMA). Specifically, The license given to SEBA is to allow the firm to officially act as the custodian bank for Swiss collective investment schemes. With this achievement, SEBA Bank will help in the evolution of digital asset investment across Europe.
To note, SEBA Bank is the first crypto firm back in 2019 to obtain a banking license from the Swiss financial markets regulator. This was just a year after it started operation in mid-2018. Later on, it launched its crypto banking services alongside.
With a brief description, SEBA Bank is a crypto Swiss-based company that offers a secure and easy-to-use bridge between digital and traditional assets.
Even more, with the CISA license, asset managers can now provide strategies based on crypto or other digital assets to a broader audience. In detail, Institutional clients and retail clients can invest in crypto assets on a liquid basis through fund structures.
SEBA Bank CEO Guido Buehler shared his thoughts on their recent achievement:
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 assets to a broader audience utilizing Swiss-based mutual fund structures secured by SEBA Bank as the CISA-licensed custodian.
Earlier this year, SEBA expanded its services in the DeFi space by adding support to Chainlink (LINK) and Aave (AAVE) tokens.
Over the years, SEBA partnered with numerous companies within the blockchain industry. Likewise, it has conventional finance sectors to improve its public offerings. As a result, the firm has received large amounts from investors to continue to expand its services.
Currently, SEBA is working towards developing its cold storage vault. The firm is collaborating with Swiss-based Taurus and custody tech partners, Fireblocks.
Additionally, with Switzerland’s regulatory clarity, crypto-assets firms are basking in the euphoria. Unlike countries such as China, Australia, US, and South Korea, whose regulators are initiating more unfriendly regulations for digital asset providers.