13
Nov, 2019

New crypto bank in Switzerland

SEBA Bank starts its operations in Switzerland, offering a wide variety of services to its customers. The services include mobile wallet, e – banking and card, giving the opportunity to its customers to use their cryptos for any transaction or payment.

 

The bank receives its license from FINMA, the official banking authority in Switzerland, and begins in August to launch its products to a close group of clients. The opening to a customer base begin with the license as many services and products include financial products and services both in digital and traditional form.

 

The clients can use digital and traditional products through bank’s platform. A correspondent from the bank stated :

 

“As a bank licensed by a reputed supervisory authority, it can offer a comprehensive range of services in the field of digital assets and cryptocurrencies, as well as in traditional banking.”

 

The new initiative starts in April 2019, when the bank fundraises around CHF 100 million from private investors, for creating a crypto bank to bridge the gap between crypto and traditional banking. At this moment, SEBA products’ support BTC, ETH, ETC, LTC and XLM.