Swiss-based SEBA dives into cryptocurrency business

The Swiss bank will add support for at least five digital coins in the nearest future. According to the announcement published on the band's website, Swiss customers can open an account in digital assets with an integrated bank.

The Zug-based financial institution offers a wide range of banking services related to blockchain and cryptocurrencies, including trading, custody and financing as well as tokenisation of investment products, real assets.SEBA claims that it aims to bridge between traditional banking and a nascent industry of cryptocurrencies and digital assets.

“We are proud to have founded a bank within 18 months, raised CHF 100 million in capital from investors and obtained a banking and securities dealer licence from FINMA. The start of operations as the first bank to focus on digital assets is another milestone. We are on track towards creating a new banking experience and redefining the customer–bank relationship. Our customers should be able to take full advantage of the opportunities offered by the new asset classes without having to sacrifice security,” Guido Bühler, CEO of SEBA Bank said.

The bank's services SEBAwallet app, E-Banking and the SEBA Card support at least five cryptocurrencies (Bitcoin, Ether, Stellar, Litecoin, Ether classic) allowing customers manage them and convert them into traditional currencies and vice versa in a secure and cost-effective way.

Earlier this week the largest Canadian bank the Royal Bank of Canada  filed patents on on technical solutions to integrate a cryptocurrency trading into its operations.  If approved the bank will be able to open custodian accounts for digital assets.