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.
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 new service will be aimed at private, corporate and institutional investors.