SEBA Crypto is going to use newly secured funding to build a regulated crypto bank to allow users to move assets more easily from crypto markets to the traditional banking sector. “This makes Switzerland the ideal place to launch a new financial services paradigm.” To this end, the Zug-based firm is aiming to secure a banking and securities dealer licence from regulator Finma in conjunction with developing its service. SEBA secured $103m of investment from domestic and international investors, both private and institutional, including BlackRiver Asset Management and Summer Capital. The company has already raised $80m (£52m) through an initial coin offering (ICO) that saw it raise over $1bn at one point before being shut down by regulators.
SEBA Crypto is going to use newly secured funding to build a regulated crypto bank to allow users to move assets more easily from crypto markets to the traditional banking sector. To this end, the Zug-based firm is aiming to secure a banking and securities dealer licence from regulator Finma in conjunction with developing its service. SEBA secured $103m of investment from domestic and international investors, both private and institutional, including BlackRiver Asset Management and Summer Capital. The company has already raised $80m (£52m) through an initial coin offering (ICO) that saw it raise over $1bn at one point before being shut down by regulators.