SEBA Bank, a FINMA licensed Swiss Bank that works with both digital and traditional assets, has been granted a license to act as a custodian bank for Swiss collective investment schemes.
SEBA states that it is the first entity to be granted this type of license by the Swiss Financial Market Authority (FINMA) to a custodian bank focused on digital assets.
SEBA says that this licence will accelerate it’s growth by extending its institutional-grade digital asset custody services to Swiss domiciled mutual funds in the digital assets sector. The license also extends SEBA Bank’s integrated digital asset investment activities and is described as an important enabler of liquid investment funds with crypto or other digital assets as an underlying investment class.
Guido Buehler, CEO of SEBA Bank, issued a comment on receipt of the license:
“Two years ago SEBA Bank received a Swiss banking and securities firm licence and is now enjoying excellent business momentum as institutional adoption of crypto & digital assets accelerates globally. With our new CISA licence, SEBA Bank continues its pioneering role in the institutional digital asset space. Asset Managers can now offer strategies based on crypto or other digital asset underlyings to a broader audience utilizing Swiss-based mutual fund structures secured by SEBA Bank as the CISA-licensed custodian.”
Founded in April 2018 in Zug, Switzerland, SEBA Bank offers a suite of regulated banking. In August 2019, SEBA Bank received a Swiss banking and securities firm license.