Swiss Startup Gets $103 Mln Investment to Set Up Crypto Bank

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    SEBA was set up by ex-UBS workers; now this startup plans to file an application to the local regulator FINMA to get a license for working in the banking and securities’

Swiss Startup Gets $103 Mln Investment to Set Up Crypto Bank
Cover image via u.today

Reportedly, SEBA was set up by ex-UBS workers; now this startup plans to file an application to the local regulator FINMA to get a license for working in the banking and securities’ sphere. After obtaining permission, the firm will be allowed to trade crypto assets and derivatives and manage balances of other institutional investors.

The CEO and chairman of SEBA claim that the newly created crypto bank will connect traditional banks and the crypto sphere. The startup also means to deal with financial issues for large corporations and provide advice on conducting ICOs.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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