SEBA, a Switzerland-headquartered digital asset bank that holds regulatory licensing, is reportedly planning to raise $96.5 million in capital.
During the fundraising, SEBA’s management intends to secure 100 million Swiss francs (appr. $96.5 million) from new investors, which include established financial institutions, family offices and individuals.
Crypto-friendly SEBA Bank AG began offering financial services on November 12, 2019 after receiving regulatory clearance from Switzerland’s Financial Market Supervisory Authority (FINMA). SEBA Bank has been licensed to provide banking services and may offer financial securities.
SEBA joined Sygnum in becoming the first digital asset platforms to acquire this type of license. As with Sygnum, the license had been provisional and would be finalized after SEBA provides additional information to FINMA. SEBA had confirmed in August 2019 that these requirements would be completed in October 2019.
The firm raised substantial investments in its debut fundraising round, having secured more than $103 million, SEBA CEO Guido Bühler confirmed in a November 12, 2019 press release.
“We are proud to have founded a bank within 18 months, raised CHF [Swiss francs] 100 million in capital from investors.”
SEBA Bank is offering a range of services in the areas of asset management, trading, custody, and financing. Additionally, SEBA is facilitating the tokenization of investment products, real assets, rights, and more.
SEBA is expanding its business operations into Hong Kong, the UK, Germany, France, Portugal, Singapore, Italy and Austria.
SEBA Crypto AG also teamed up with Switzerland-based mortgage bank Hypothekarbank Lenzburg AG (in February 2019), in order to use its core banking system, Finstar. The partnership between the two entities involved the integration of SEBA’s decentralized software into Finstar. The collaboration also allowed SEBA to use Finstar’s standard financial services.