SEBA digital asset bank backed by Julius Baer to raise USD 100 million

Monday 20 January 2020 13:39 CET | News

Switzerland-based digital asset bank SEBA has announced it will attempt to equal the September 2019 USD 103 mln funding round in new bid.

As reported by Financial News London, the company received a FINMA banking license in August 2019, around the same time as fellow Swiss bank Sygnum. It officially opened its doors for business in November.

According to the corporate registry, to date, SEBA shareholders paid USD 53 mln in capital as of November 2019. The original roadmap had included an ICO in the third quarter of 2019. That morphed to a private placement targeted for the end of the year. The plan is to convert the investment into tokens once a listing on a regulated exchange is possible. SIX and daura are actively working on providing such a Swiss-based regulated platform.

SEBA provides several services. Right now, the emphasis is on cryptocurrencies, and it set up a new Crypto index for diversified investment purposes. For this, it provides custody, trading and liquidity. In a broader context, this includes wealth management, hence the Julius Baer relationship.

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Keywords: Julius Baer, SEBA, Switzerland, digital asset bank, cryptocurrencies, funding round, digital banking, online banking, Europe, investment
Categories: Banking & Fintech
Countries: Switzerland
This article is part of category

Banking & Fintech