Swiss-Based Digital Asset Bank To Raise A Secondary Capital

News / 18.01.2020

Seba is a new digital asset bank holding regulatory licensing and it is based in Switzerland. It seems it is attempting to raise a secondary capital of more than $95 million in additional funds.

According to Financial News London on January 17, the firm wants to focus on securing 100 million CHF (96.5 million USD) from new investors, as well as financial institutions, family offices and individuals.

SEBA Bank AG is a cryptocurrency-friendly startup and the announcement of its launch emerged in November last year. The announcement came following the approval of Switzerland’s Financial Market Supervisory Authority (FINMA) for operation in securities and banking space.

The startup firm was able to raise remarkable capital in its initial fundraising effort, as it secured more than 103 million USD. On November 12 last year, the CEO of the firm Guido Bühler, in a press release said they are pleased to be able to establish a bank within one year and six months, and for raising 100 million CHF in capital from investors.

A month following the announcement of its launch, it was reported that the firm had expanded to nine other countries, including Hong Kong, the United Kingdom, Germany, France, Portugal, Singapore, Italy and Austria.

Another report noted a partnership between the firm and Hypothekarbank in February last year.


Featured image courtesy of Shutterstock. Source: Cryptopress.

Dacosta Osei-Tutu, a first degree holder in Nursing, who couples his Nursing career with blockchain blogging, has a great passion for the blockchain technology and aims to play a vital role in applying this revolutionary technology to disrupt the healthcare system in Africa.