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Finance

Swiss Crypto Bank SEBA Raises $22.5M to Fuel Growth

The Swiss firm plans to expand into the Middle East and Asia and offer services for U.S. institutional clients.

By Daniel Palmer
AccessTimeIconDec 23, 2020 at 11:52 a.m. UTC
Updated May 9, 2023 at 3:14 a.m. UTC
Zug, Switzerland

Zug, Switzerland

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SEBA Bank, a digital assets firm with a banking license in Switzerland, has raised 20 million Swiss francs ($22.48 million) in a Series B funding round, it told CoinDesk.

  • Announcing the news Tuesday, SEBA said the investment primes the company to boost product offerings, as well as accelerate growth and international expansion.
  • Both existing and news investors from Switzerland, Europe and Asia joined the round, the firm said, but it did not disclose any names.
  • The company said it plans to tokenize shares of the Series B round once an expected Swiss blockchain law comes into force.
  • "This [investment] will allow us to accelerate the strong growth SEBA Bank is delivering as we also plan to expand into new markets in Middle East and Asia and support U.S. institutional clients,” said SEBA Bank CEO Guido Buehler in the announcement.
  • SEBA offers cryptocurrency trading as well as custody services with claimed "military-grade" security. It also has a platform for the issuance and management of tokenized securities.

See also: The Crypto Firms Collaborating on a Swiss Franc Stablecoin

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