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

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’

Thu, 27/09/2018 - 8:54

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

Cover image via U.Today

Read U.TODAY on

Google News

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.

About the author

Yuri Molchan

Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. He has written for multiple crypto media outlets. His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.