Swiss crypto institution SEBA Bank granted collective investment scheme licence

Switzerland’s SEBA Bank has been granted a licence to act as a custodian bank for collective investment schemes, a first for a bank focused on digital assets.

SEBA Bank CEO, Guido Buehler

The licence granted by Switzerland’s Financial Market Authority (FINMA) means the crypto institution can provide custody solutions for collective investment schemes underpinned by cryptocurrency and other digital assets.

The bank is the world’s first licensed and supervised bank that marries the new financial world of digital assets with traditional banking.

The licence will boost SEBA’s growth, the bank says, through the extension of its institutional-grade digital asset custody services to Swiss domiciled mutual funds and is an important step in the adoption of liquid investment funds with crypto or other digital assets as an underlying investment class.

The bank’s CEO, Guido Buehler, says: “Two years ago SEBA Bank received a Swiss banking and securities firm licence and is now enjoying excellent business momentum as institutional adoption of crypto & digital assets accelerates globally.

“Asset Managers can now offer strategies based on crypto or other digital asset to a broader audience utilising Swiss-based mutual fund structures secured by SEBA Bank as the CISA-licensed custodian.”

Source: https://www.fintechfutures.com/2021/09/swiss-crypto-institution-seba-bank-granted-collective-investment-scheme-licence/