CHF100 million for bridging the gap between crypto and traditional financing

Traditional financial market participants widely exclude themselves from crypto markets, because crypto investments are perceived as risky and lacking investment specific regulatory protection. Similarly, crypto companies and investors are finding it difficult to move assets from the crypto markets into the traditional regulated banking world. SEBA intends to solve these challenges, bringing together a Swiss-based team of global experts focused on obtaining a banking and securities dealer license from the Swiss Financial Market Supervisory Authority (FINMA) and developing a new platform, leveraging state-of-the-art FinTech and best-in-class service partners to deliver military-grade secure traditional and crypto banking experiences.

Andreas Amschwand, designated Chairman of SEBA and formerly UBS Global Head of Foreign Exchange and Money Market, commented: “In Switzerland we have commitment from various authorities to establish a comprehensive regulatory environment for the development of blockchain technology and the sustainable, stable growth of crypto assets. This makes Switzerland the ideal place to launch a new financial services paradigm. I’m excited to be part of a team of experts helping to usher in the crypto economy.”

Mix of institutional and private investors
The CHF100 million investment came from a mix of Swiss and international institutional and private investors, demonstrating support for SEBA’s vision to redefine finance for the new economy. Guy Schwarzenbach, CEO at BlackRiver Asset Management AG, investor and designated Board Member of SEBA said: “SEBA is an extremely promising start-up with an ambitious mission. The investment in SEBA is predicated on deep analysis of the velocity of the cryptographic asset market - if adoption, use and utility continue to gain traction at the same rate; crypto will become a legitimate, sound asset class and therefore hold a requisite allocation in investors’ portfolios.”

SEBA aims to bring crypto and blockchain products and services to the market by providing an easy-to-use and fully licensed and supervised one-stop banking solution, offering products and services for private individuals and institutional investors, as well as corporate investors. Following the grant of the FINMA license, SEBA will combine an online and a retail bricks and mortar experience, to cater to all possible user requirements for crypto and traditional banking services.

SEBA is in the process of applying for a banking and securities dealer license from FINMA. This license would allow SEBA to offer a comprehensive range of services, including secure storage and custodial services, trading and liquidity management, crypto corporate finance advisory and crypto asset and investment management services.

Jack Chung, Managing Director of Summer Capital, a SEBA investor, said “We see our investment in SEBA as leveraging the known ties between Switzerland and Asia, marrying the deep heritage in financial services and security standards of Switzerland, with the impressive growth and innovation that is powering Asia.”

(Press release)

Picture: Fotolia.com / Anton