First crypto bank set for Switzerland

SEBA Crypto AG is set to become Switzerland’s first crypto bank. The company’s vision is to bridge the gap between the crypto and traditional, regulated financial markets by giving both crypto companies and investors ways to move digital assets between the economies. It is in the process of applying for a banking and securities dealer license from the Swiss Financial Market Supervisory Authority FINMA, reports a statement.

The new company has already secured 100 million francs from Swiss and international institutional and private investors. Behind the project are well-known personalities from the Swiss financial sector. Andreas Amschwand, formerly UBS Global Head of Foreign Exchange and current member of the board of Julius Bär , is designated Chairman. Another designated board member is Guy Schwarzenbach, investor and CEO at BlackRiver Asset Management AG. CEO and initiator is Guido Bühler, former UBS banker and co-founder of B&B Analytics.

“A fundamental aspect of our mission is education, we want to promote the potential blockchain holds for global economic reform and financial inclusion,” commented Bühler. “Our ambition is to become a market leader in the convergence of traditional finance with the crypto economy.”