SEBA Bank has issued Switzerland’s first custody license for digital assets

SEBA AG Bank, a fully regulated Switzerland-based organization focused on the offering of digital crypto assets today announced the approval of a CISA license from the Swiss Financial Market Supervisory Authority (FINMA) to facilitate monitoring services at the institutional level for native speakers collective investment plans.

This announcement allows the bank to go Swiss and actually be one of the first digital asset centric banks in the world to receive a custody license. The approval will allow the institute to offer larger investment opportunities to professional clients in emerging crypto markets.

Founded in mid-2018 with the philosophy of next-generation digital banking, the company soon advanced to become a pioneer in the field of managed digital assets. A year later, in August 2019, the bank received a banking and securities firm license that launched its SEBAwallet app, e-banking service, and SEBA card, supporting five major cryptocurrencies, including Bitcoin and Ethereum.

Guido Buehler, CEO of SEBA Bank, comments on the bank’s recent successes:

“Two years ago, SEBA Bank received a Swiss banking and securities house license and is now enjoying great business momentum as the institutional introduction of crypto and digital assets is accelerated worldwide.”

Legal guarantees in what is often referred to as a volatile market soon caught the attention of the European elite. In mid-2020, the French central bank Banque de France selected SEBA to participate in their experimental Euro digital project to study the feasibility of CBDCs in cross-border payments.

Related: Swiss Exchange SIX approves crypto market launch

Bühler also commented on the impact of obtaining a CISA license for adoption in Europe:

With our new CISA license, SEBA Bank is continuing its pioneering role in the institutional digital asset area. Asset managers can now make strategies based on cryptocurrencies or other digital assets accessible to a wider audience by using guaranteed Swiss mutual fund structures from SEBA Bank as a CISA-licensed custodian. “