SEBA Bank received a license from the Swiss regulator to store digital assets – Bits Media

Swiss crypto bank SEBA received FINMA license, allowing the bank to provide custodian services to institutional investors.

SEBA CEO Guido Bühler (Guido Buehler) stated, that the bank became one of the first institutions, received permission Swiss Financial Market Supervisory Authority (Finma) for storage of clients’ digital assets. Thanks to this license, the bank will be able to open up wider investment opportunities for them in the cryptocurrency market.

SEBA was founded in the middle 2018 of the year, and in August 2019 received a FINMA license to carry out banking activities and trade securities. Besides, the bank introduced the SEBAwallet and SEBA card, supporting five major cryptocurrencies: BTC, ETH, XLM, LTC and ETC.

“Having received a license two years ago, SEBA began to rapidly develop its business, as large companies from around the world are rapidly adopting cryptocurrencies. With the new license, we will continue to be pioneers in the field of digital assets.", – Bühler commented.

The Swiss bank is not only positive about cryptocurrencies, but also actively uses the capabilities of blockchain. Last year, SEBA announced a partnership with Digital Asset Shared Ledger, which allowed the bank to tokenize assets on the Corda blockchain. Besides, The French Central Bank selected SEBA as a participant in a pilot project to test the digital euro for international payments.

Being a "financial center", Switzerland promotes innovation in financial markets and does not hinder the work of firms, using blockchain and cryptocurrencies, if they are ready to comply with the established rules. So, in 2020 year, the Swiss division of Gazprombank received permission from the regulator to provide custodial services for digital assets.