SEBA Bank wishes to accelerate its international development
On his twitter account, the Swiss crypto-bank SEBA announced having raised almost 110 million Swiss francs – or about 120 million dollars – in a Series C funding round.
This fundraising was co-led by Altive, Ordway Selections, DeFi Technologies and Summer Capital. Other participants include Alameda Research (FTX).
“The financing round was widely subscribed, reaffirming our vision and business strategy as a bank for the new economy,” said Guido Buehler, CEO of SEBA.
Since its creation in 2018, the bank approved by the Swiss Financial Market Supervisory Authority (FINMA) raised nearly $249 million.
These additional funds are intended to develop new international markets, such as the Middle East.
In addition to consolidating its presence in Hong Kong and Singapore, the funds will also serve the development of the bank’s products and services.
“A number of global macro trends are also encouraging institutional players to switch to cryptocurrencies now, including negative returns on traditional investment products and greater regulatory clarity on cryptocurrencies provided in a number of jurisdictions,” said Guido Buehler
A digital asset service for institutions
Currently, the Swiss crypto bank offers its customers access to cryptocurrency trading and custody services.
Support includes but is not limited to: Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Stellar Lumen (XLM), Bitcoin Cash (BCH), and USDC stablecoin.
Since then, SEBA Bank has extended its offering to decentralized finance (DeFi) by accepting UNI, SNX, YFI, AAVE and LINK tokens.
In this sense, the bank wishes optimize its decentralized finance service for institutions. The latter are starting to become enthusiastic about digital assets.
Thus, the crypto-bank expressed the wish to use the Arc d’Aave platform to attract institutional investors. Thanks to this tool, its clients will be able to take advantage of the attractive returns offered by decentralized finance while meeting the requirements of current regulations.
👉 To discover – The Swiss crypto-bank SEBA launches a token backed by physical gold, the Gold Token
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