Swiss clients can now officially open an account with an integrated bank focusing on digital assets
- Following the granting of a banking licence by FINMA in August 2019 and the completion of a one-month test phase, Swiss clients can now officially onboard with an integrated bank for traditional and digital assets.
- This sees SEBA make history: as a bank licensed by a reputed supervisory authority, it can offer a comprehensive range of services in the field of digital assets and cryptocurrencies, as well as in traditional banking.
- The extension of onboarding to clients from selected foreign jurisdictions is planned for December 2019.
Zug, 12 November 2019 – SEBA Bank AG (formerly SEBA Crypto AG) is fully operational just 18 months after its foundation and a few weeks after being granted a banking licence by the Swiss Financial Market Supervisory Authority FINMA. After an onboarding phase with a designated customer group, SEBA has now officially started the onboarding of customers based in Switzerland. Its comprehensive banking services are aimed at banks, asset managers, pension funds, companies and professional private investors.
In addition, a limited range of services is intended specifically for Swiss blockchain companies and their employees. SEBA gives these companies access to a corporate account with a Swiss bank, thereby closing an important gap in the local ecosystem.
The Zug-based financial institution is building 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. The tokenisation of investment products, real assets, rights and primary financing constitutes another mainstay. This enables SEBA to cover the entire lifecycle of digital assets.
“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,” says Guido Bühler, CEO of SEBA Bank.
Since its foundation in April 2018, SEBA Bank has invested extensively in the development of new technologies and in security. Secure custody of digital assets is a critical success factor for the new bank. SEBA customers can invest in both traditional and digital assets, store them, trade them and take out loans – now via an integrated interface.
Using the SEBAwallet app, E-Banking and the SEBA Card, customers can manage at least five cryptocurrencies (Bitcoin, Ether, Stellar, Litecoin, Ether classic) easily, securely and cost-effectively, and convert them into traditional currencies and vice versa online.
The SEBA Card can be used at 42 million points of sale worldwide. “The SEBA Card represents an important step towards the mass introduction of cryptocurrencies,” says Bühler.
Security, transparency and performance are important value drivers at SEBA. When it comes to transparency, SEBA attaches particular importance to implementing a fair, transparent and coherent price structure – across different asset classes as well as individual customer groups.
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SEBA Bank AG Corporate communication Eva Oberholzer media@SEBA.swiss
Press release distributed by Pressat on behalf of Pressat Wire, on Tuesday 12 November, 2019. For more information subscribe and follow https://pressat.co.uk/