Swiss Startup Secures $ 100 Million Investment To Launch A Cryptocurrency Bank

Created by former UBS employees, the Swiss startup SEBA raised about $ 104 million to create a ” regulated cryptocurrency Bank ” that will “bridge the gap between the cryptocurrency and traditional financial economy.”

Traditional participants of the financial market are afraid to work with cryptocurrencies because of the risks associated with their volatility and decentralization. Similarly, it is difficult for cryptocurrency companies and investors to move digital assets into the traditionally regulated banking world.

SEBA intends to solve these problems by bringing together a team of experts from Switzerland, focused on obtaining a license to trade banking services and securities from the financial regulator of the country (FINMA) and the development of a new FINTECH platform.

If approved, SEBA intends to open online and physical banks to provide cryptocurrency and traditional financial services.

SEBA aims to bring cryptocurrency and blockchain-based products and services to the market by providing a licensed and controlled one-stop banking solution for individuals, institutional and corporate investors.