Regulatory permission and new base for Seba in Abu Dhabi

Please login or
register
22.02.2022
Abu Dhabi

SEBA Bank has opened an office in Abu Dhabi to strengthen support for its regional partners in providing regulated digital asset services. The expansion comes after the Fintech startup received Financial Services Permission from the Abu Dhabi Global Market’s Financial Services Regulatory Authority.

SEBA Bank is the Swiss smart bank providing a secure, institutional-grade, universal suite of regulated banking services for the new digital economy. As one of the world’s first fully licensed banks with a core capability in digital assets, SEBA Bank is trusted by investors, financial institutions, and corporations to seamlessly guide clients into the digital asset economy. SEBA Bank is a leader in innovation in digital asset services and has launched a number of landmark products in response to client demand.

The obtained Financial Services Permission (FSP) authorises SEBA Bank to conduct regulated activities in the Abu Dhabi Global Market (ADGM), including advising on investments or credit, arranging credit and custody, and arranging deals in investments; pursuant to the Financial Services and Markets Regulations 2015 (“FSMR”).

The office opening in Abu Dhabi will further accelerate the considerable growth that SEBA Bank has achieved over the past year. In January, SEBA Bank closed a USD 120M Series C round, enabling continued high-trajectory institutional business growth through further investment in product offerings and technology. ADGM is part of SEBA Bank´s strategy to establish licenced presences in the markets it serves. With the dedicated office in Abu Dhabi, the bank will further expand its headcount across operations, sales, and business development in the region.

Christian Borel, Senior Executive Officer and Branch Manager at SEBA Bank AG ADGM, said: “The UAE is a global leader in digital assets and blockchain, with the Emirates Blockchain Strategy 2022 providing a clear plan for cementing its place as a global hub for blockchain innovation. Abu Dhabi has established clear regulatory frameworks that allow licensed companies to operate with clarity. As a regulated bank, SEBA Bank can act as a trusted counterparty to those interested in digital asset investment and banking services in the region.”

(Press release)

0Comments

More news about

Amina Bank (SEBA Bank AG)

Company profiles on startup.ch

Amina Bank (SEBA Bank AG)

rss