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Regulated Swiss Crypto Bank, SEBA, Debuts to Fix Banking Woes for Startups

SEBA Bank, a Switzerland-based cryptocurrency-focused bank, has recently declared its services open for Swiss clients in both the field of digital assets and traditional banking. 

According to an official update published by the company on Nov. 12, the SEBA Bank is now fully operational since it has been granted a banking and securities dealer license by the Swiss Financial Market Supervisory Authority (FINMA).

As per the report, the bank’s services are open for a wide array of clients, including “asset managers, pension funds, companies, and professional private investors.”

Speaking on the latest milestone, the CEO of SEBA bank, Guido Bühler said,

We are proud to have founded a bank within 18 months, raised CHF 100 million in capital from investors and obtained banking and securities dealer license from FINMA [….], We are on track towards creating a new banking experience and redefining the customer-bank relationship.

The bank reportedly offers services that enable clients to conduct transactions using five different cryptocurrencies, Bitcoin, Ether, Stellar, Litecoin, and Ether Classic, using the SEBAwallet app, e-banking, and the SEBA card. All these notably makes the conversion of these cryptocurrencies to local currencies and back very easy, convenient, and secure for their clients. 

Additionally, the bank is providing blockchain companies and their employees with a variety of services, which gives them access to “a corporate account with a Swiss bank, thereby closing an important gap in the local ecosystem.”

Bearing in mind that the security of digital assets in their custody is a crucial factor that will guarantee their success in the banking field, SEBA Bank said it invested heavily in developing new technologies and secure the assets in their care.

In the meantime, only Swiss clients can open accounts with the bank with onboarding of clients from various selected regions expected to happen at the start of December.

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