SEBA granted first FINMA license for crypto funds

Rick Steves

“Asset Managers can now offer strategies based on crypto or other digital asset underlyings to a broader audience utilizing Swiss-based mutual fund structures secured by SEBA Bank as the CISA-licensed custodian.”

FINMA, Switzerland’s financial watchdog, has granted SEBA Bank a license to act as a custodian bank for Swiss collective investment schemes.

This means the crypto specialized bank is authorized to offer Swiss domiciled funds a safe and progressive investment capability within the crypto and digital assets space.

SEBA Bank will now be able to provide one of the first institutional-grade custody solutions globally for collective investment schemes with liquid crypto or digital assets as the underlying investment universe, for professional investors.

This is the first license granted in Switzerland by the Swiss Financial Market Authority (FINMA) to a custodian bank focused on digital assets.

Guido Buehler, Chief Executive Officer of SEBA Bank, said: “Two years ago SEBA Bank received a Swiss banking and securities firm license and is now enjoying excellent business momentum as institutional adoption of crypto & digital assets accelerates globally.

“With our new CISA license, SEBA Bank continues its pioneering role in the institutional digital asset space. Asset Managers can now offer strategies based on crypto or other digital asset underlyings to a broader audience utilizing Swiss-based mutual fund structures secured by SEBA Bank as the CISA-licensed custodian.”

The license is expected to fuel growth for the bank as it extends its institutional-grade digital asset custody services to Swiss domiciled mutual funds, an important new institutional capability.

SEBA Bank’s digital asset investment activities are now enhanced with its digital custody services for Swiss domiciled mutual funds, which enable liquid investment funds with crypto or other digital assets as an underlying investment class.

SEBA Bank pioneered crypto-to-fiat banking services. The bank’s proprietary Digital Asset Technology Integration Layer offers connectivity across an ecosystem of digital asset banking and investment services, including an integrated trading platform with spot, derivative, and credit capabilities.

The bank also boasts an end-to-end tokenisation platform for managing the full lifecycle of digital assets. a wide offering of investment products and discretionary mandates supported by institutional grade buy-side research; and a fully integrated military-grade custody and wallet solution.

The bank has recently appointed Sam Lin as Chief Executive Officer Asia to complement the headcount growth in the Singapore and Hong Kong hubs as well as solidify the firm’s status of regional leader in digital asset banking. His fintech experience will be leveraged to expand the FINMA-licensed Swiss bank’s footprint in the Asia Pacific as a provider of a seamless, secure, and easy-to-use bridge between digital and traditional assets.

 

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