SEBA Bank, a Switzerland-headquartered digital asset bank that holds regulatory licensing, announced on Monday it has formed a new strategic partnership with technology platform Tokensoft International AG (Tokensoft) for asset tokenization.
SEBA reported that it and Tokensoft have been working closely together on a range of digital client solutions and technologies. The new partnership’s primary goal is the following:
- Broadening SEBA’s tailored asset tokenization technology and advisory solutions for institutions and qualified private individuals, allowing clients to design, structure, issue, and manage digital assets on SEBA’s platform.
- Combining Tokensoft’s deep technology expertise as well as critical market infrastructure utilities with SEBA’s profound financial market knowledge and enterprise-grade tokenization capabilities to offer it to a wider range of clients
- Promoting common tokenization standards to ensure interoperability between blockchain and traditional financial systems, bridging traditional fiat-banking with both existing and emerging digital banking processes and technology
Speaking about the partnership, Matthew Alexander, Head Asset Tokenization at SEBA, added:
“Tokensoft’s core competencies perfectly complement our existing asset tokenization capabilities. Our Asset Tokenization division offers enterprise grade solutions, with our Swiss banking license assuring the highest standards in security and stability.”
Founded in 2018, SEBA claims it is a licensed and supervised Swiss bank providing a seamless, secure and easy-to-use bridge between digital and traditional assets. Secure, trade, and manage cryptocurrencies, digital assets, and conventional securities all in one place. The bank 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.
Previously, it was reported that SEBA was planning to raise $96.5 million in capital from new investors. The bank raised substantial investments in its debut fundraising round, having secured more than $103 million in November 2019.