SEBA bank is the first Swiss-based custodian with a digital asset license
Industry News
Switzerland is among the most crypto-friendly European countries, and SEBA bank AG is about to become a pioneer in providing crypto-related services to institutional investors.
The Swiss-based bank announced that FINMA has approved a digital asset custody license. As such, SEBA gets official permission to provide institutional clients with access to crypto-related services. The bank is the first licensed custodian in Switzerland, and one of the first – in the world.
The bank originally came into existence in 2018 with a focus on digital assets. Furthermore, making the industry regulated and available for crowds of clients is among the key objectives of SEBA.
Guido Buehler, the head of SEBA comments on the license approval: “The licensing procedure is of much account for us, allowing institutional clients, and then private ones to access the crypto market on a liquid basis. It means there is now the opportunity for institutions to establish their fund structures for crypto as a liquid asset, so people can subscribe today and can sell tomorrow.”
As for Switzerland, this news is going to push the crypto industry forwards, unlocking new horizons for Swiss crypto-related businesses. In Europe, the country is in the 3rd position according to the number of Bitcoin ATMs and heads the ranking of countries with the widest usage of digital currencies.
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