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

Disclosure
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.