Seba Bank, a Switzerland-based digital asset banking platform regulated by the Swiss Financial Market Supervisory Authority, announced on Wednesday that it had successfully completed a Series C funding round of 110 million Swiss francs, or 119 million US dollars. Notable investors in the round included cryptocurrency exchange FTX, quantitative digital currency trading company Alameda Research, decentralized financial asset management company DeFi Technologies, and venture capital entities such as Altive, Ordway Selections, and Summer Capital.
The bank said it plans to use the funds to drive international growth and drive demand from institutional investors in the digital asset industry. Seba has been at the forefront of crypto innovation in Switzerland. In September 2021, the company obtained the first Swiss contract digital asset custody license. A month later, launched a program so that users obtain returns on their POINT, XTZ Y THERE ARE holdings. In December 2021, the bank launched its own regulated account exchangeable gold token with physical gold on demand, which could potentially be used as a gold standard digital currency. Seba Bank went into full operation to professional investors and institutional clients in 2019.
Jonathan Ordway Fackelmayer, President of Ordway Selections, issued the following statement regarding the development:
โWe are delighted to be part of the leading investor consortium together with Altive and Summer Capital. They both have a deep understanding of financial services and technology applications. Our consortium believes that SEBA Bank is uniquely positioned to respond to the needs of the growing and demanding group of cryptocurrency investors around the world. "
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