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After successfully obtaining a banking license from the Swiss Financial Market Supervisory Authority (FINMA), SEBA Bank announces the launch of its services in digital assets and traditional assets banking.
In a blog post that announced the launch of the bank’s new crypto services, it reports that the bank will now cater to a wide range of clients that include “asset managers, pension funds, companies, and professional private investors.”
FINMA has closely monitored the operations at SEBA during a one-month testing period. The successful completion of the test phase was immediately followed by FINMA granting the license to the bank. On this occasion, 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 digital platform offered by the bank will allow the customers to engage in transactions using five different cryptocurrencies that include Bitcoin(BTC)trade, Ethereum (ETH)trade, Stellar (XLM), Litecoin (LTC)trade, and Ethereum Classic (ETC). The basic requirements for enabling digital transactions include a specialized SEBAwallet app, e-banking, and the SEBA card. The platform offers much convenience to the customers who can convert traditional currency to digitized currency easily and securely.
Services for Blockchain and Crypto Companies
Additionally, SEBA bank will offer a limited range of services tailored for Swiss blockchain companies and their employees, which will be able to enjoy access to fiat and digital assets. Additionally, they will be able to tokenize their assets as per their needs. By giving crypto-based companies a corporate account with a Swiss bank, the bank hopes to bridge the gap between the traditional banking world and the crypto world.
The SEBA card is arguably the premium offering of the company. According to the bank, the customers will be able to use the card for a 42 million points of sale worldwide. Bühler says that the card represented an important step towards mass adoption of cryptocurrencies all over the world.
In the concluding part of the blog post, the bank emphasized that security, transparency and performance are the key aspects which informed the design of the bank’s digital platform to better suit the needs of a wide range of customers from corporate to individuals.