Seba Crypto AG, a Zug, Switzerland-based startup that aims to create its regulated crypto bank, secured CHF100m in funding.
The investment came from a mix of Swiss and international institutional and private investors including Summer Capital and BlackRiver Asset Management.
Led by and Guido Bühler, CEO, and Andreas Amschwand, Chairman, Saba aims to bring crypto and blockchain products and services to the market by providing a fully licensed and supervised banking solution, offering products and services for private individuals and institutional investors, as well as corporate investors.
Following the grant of the FINMA license, Seba will combine an online and a retail bricks and mortar experience, to satisfy the user requirements for crypto and traditional banking services.
The company is now in the process of applying for a banking and securities dealer license from FINMA. This license would allow it to offer a comprehensive range of services, including secure storage and custodial services, trading and liquidity management, crypto corporate finance advisory and crypto asset and investment management services.