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Swiss authority issues banking license to SEBA crypto

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Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

SEBA Crypto AG today announced that they have secured a banking and dealers license from the Swiss regulator FINMA. CEO Guido Bühler launched SEBA crypto in 2018, and in less than two years it has become a licensed and supervised bank. The services are officially supposed to go live from early October of this year.

Earlier in February this year, SEBA announced the collaboration with Julius Baer a multinational private bank based in Switzerland. The company claimed that with getting securities dealers license, they have successfully narrowed the gap between traditional banks and the digital asset world.

In the official statement, the company said that with this move, they aim to provide one place solution to professionals, companies, and institutional clients to help them invest, keep and trade traditional and digital assets. The company also announced that the future offering would include custody storage, trading, and liquidity management along with asset and wealth management.

SEBA will provide accounts and custody for fiat and digital assets for blockchain companies based in Switzerland. This is the first time the  Swiss Financial Market Authority (FINMA) has issued a banking license to a financial services provider with a primary focus on digital assets.

Disclaimer: Coinnounce's views are not necessarily reflected in the articles published, and they are the sole representation of the author's opinions. Article's information should not be taken as investment advice. Risks are involved in cryptocurrency investments and trading. Readers are urged to carry out extensive research before making a decision.

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