Switzerland: SEBA Bank approved by FINMA for crypto services
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Switzerland: SEBA Bank approved by FINMA for crypto services

By Stefania Stimolo - 12 Nov 2019

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The former SEBA Crypto AG, SEBA Bank AG, announced today that it has been licensed by FINMA, the Swiss banking authority that is also known as the Financial Market Supervisory Authority, and is ready to offer its crypto and traditional services.

According to the report, the banking services offered by SEBA Bank are already operational for all clients based in Switzerland, especially for banks, asset managers, pension funds, companies and professional private investors. 

Guido Bühler, CEO of SEBA Bank, said:

“We are proud to have founded a bank within 18 months, raised CHF 100 million in capital from investors and obtained a banking and securities dealer licence from FINMA. The start of operations as the first bank to focus on digital assets is another milestone. We are on track towards creating a new banking experience and redefining the customer–bank relationship. Our customers should be able to take full advantage of the opportunities offered by the new asset classes without having to sacrifice security”.

In fact, it seems that the financial institution of Zug, located at the heart of the crypto-valley, aims to act as a bridge between the traditional banking world and the new crypto/digital world, offering a wide range of services in the areas of asset management, trading, custody and financing.

Not only that, but the tokenisation of investment products, real estate, rights and primary financing is another pillar, along with a limited range of services specifically designed for Swiss blockchain companies. 

In fact, it seems that SEBA Bank will offer the possibility of accessing a corporate account with a Swiss bank, thus closing a major gap in the local ecosystem. 

Alongside these services, the SEBAwallet app, E-Banking and SEBA Card are already available. Bühler says:

“The SEBA Card represents an important step towards the mass introduction of cryptocurrencies”.

In fact, with the SEBA Card, it will be possible to immediately use Bitcoin (BTC), Ethereum (ETH), Stellar (XLM), Litecoin (LTC) and Ethereum Classic (ETC) in 42 million stores worldwide. 

Switzerland continues to be a favourable country for the new digital FinTech involving blockchain and crypto. 

In addition to offering a traditional crypto bank the opportunity to become operational in just 18 months, in a recent analysis on the theme of Initial Coin Offering, Switzerland was ranked 4th in the ranking with just under $2 billion collected with ICOs

Stefania Stimolo
Stefania Stimolo

Graduated in Marketing and Communication, Stefania is an explorer of innovative opportunities. She started out as a Sales Assistant for e-commerce, and in 2016 she began to develop a passion for the digital world, initially in the Network Marketing sector, where she discovered and became passionate about the ideals behind Bitcoin and Blockchain technology, which lead her to work as a copywriter and translator for ICO projects and blogs, and organize introductory courses.

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