SEBA, a crypto-friendly Swiss-based digital asset bank which holds the regulatory licensing, is planning to raise a secondary capital raise to extract over $ 95 million in the supplementary funds.
According to the latest news from Financial News London, SEBA aims to secure 100 million Swiss francs which are equivalent to $96.5 million from new investors which include financial institutions and other individuals.
Recently Launched SEBA, Raising Significant Capital
After the approval of Switzerland’s Financial Market Supervisory Authority (FINMA), crypto-friendly start-up SEBA bank launched on Nov 12, 2019. The bank operates in the sphere of banking and securities.
In the first fundraising round, the bank raised a tremendous amount of capital, i.e. over $ 103 million US Dollar. Guido Buhler, the CEO of SEBA, was proud to raise massive capital from investors in a short span. The second round of fundraising denotes that the bank is gaining the trust of the investors in the capital market.
SEBA and Crypto Assets
SEBA maintains the bridge between digital and traditional assets. With the various products of the crypto bank, new investors can tap the potential of digital assets with known rules from already existed financial world. The idea of a combined and supervised bank came from the rising demand for alternatives to investment and enhancing affinity for technology penetration.
The recently launched SEBA Crypto Asset Select Index (SEBAX) aimed at optimising the risks associated with the crypto investment market.
Also, the bank has launched the SEBA card, which represents the crucial move towards the mass addition of cryptocurrencies.
Rapid Expansion of Bank
SEBA was set up to empower people to engage in the combined economy of upcoming digital and traditional assets. As the bank promises to cover the complete cycle of financial product, it expanded in nine more countries which includes Hong Kong, The United Kingdom, Germany, France, Portugal, Singapore, Italy and Austria. Also, SEBA partnered with Hypothekarbank recently.
Thus, regulated crypto banks offering the various secured services can diversify the expanse of the crypto market.