Just a month after its successful launch, the Swiss cryptocurrency bank <a href="https://www.seba.swiss/">SEBA</a> is now expanding to nine more countries. SEBA is a bank that unites traditional banking operations with digital assets. The bank announced it will now accept institutional and private clients from new markets including Hong Kong and Singapore. The other countries which get included are the U.K., Italy, Germany, France, Austria, Portugal, and the Netherlands.

The bank was set up in April 2018 and received a banking license from the Swiss Financial Market Supervisory Authority (FINMA) in August 2019. However, The bank became fully operational in November 2019. In reference to the current announcement, SEBA stated, “More than 10 years after the invention of Bitcoin, there is still a tremendous gap between traditional banking on one side and decentralized finance on the other side”.
<h2>Bridging the gap</h2>
SEBA is aiming to bridge the gap between traditional banking and digital economy as the use of blockchain is growing in banking. Guido Bühler, the Chief Executive Officer of SEBA added, “SEBA wants to redefine the customer-bank relationship and give clients a simple but the most secure banking experience in the new and old financial world.”
<h2>Other products</h2>
SEBA also offers SEBAwallet app, e-banking, and SEBA card facilities. The customers can manage five cryptocurrencies such as <a href="https://www.cryptoknowmics.com/crypto/cryptocurrency-market-vulnerable-to-further-losses/">Bitcoin</a>, Ether, Litecoin, Stellar and Ether classic through the services. The customers can convert the cryptocurrencies into traditional currencies with the bank facilities. SEBA also offers corporate accounts to swiss blockchain companies and their employees.

SEBA also maintains SEBAX (SEBA Crypto Asset Select Index). This is a risk optimized index and it helps the customers to enter the crypto industry with a bigger and better exposure of the market.
<h2>Competitors in the market</h2>
Currently, the one main rival in the market is Sygnum. Well, the Swiss bank got its license in August and became operational just after a month. It recently received a capital market services license in Singapore which will allow Sygnum to provide asset management services there.

Swiss Crypto Bank SEBA expands its operations to nine new markets including Hong Kong and Singapore

Debarati is a finance MBA who is a keen observer of the current crypto currency market. She likes to read and write about the game changer and industry transforming news of the market.

Swiss Crypto Bank SEBA expands its operations to nine new markets including Hong Kong and Singapore

Top Picks