{"id":19957,"date":"2019-11-13T16:04:39","date_gmt":"2019-11-13T15:04:39","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=19957"},"modified":"2023-08-30T09:15:28","modified_gmt":"2023-08-30T09:15:28","slug":"swiss-crypto-bank-seba-ag-goes-live-weeks-after-receiving-finma-approval","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/swiss-crypto-bank-seba-ag-goes-live-weeks-after-receiving-finma-approval\/","title":{"rendered":"Swiss Crypto Bank SEBA AG Goes Live Weeks after Receiving FINMA Approval"},"content":{"rendered":"<p style=\"text-align: justify\" align=\"center\"><strong>SEBA<\/strong> Bank AG (formerly SEBA Crypto AG), a newly regulated bank in Switzerland has launched its cryptocurrency banking services according to a press release <strong>published<\/strong> by the company on Tuesday. <!--more--><\/p>\n<p style=\"text-align: justify\" align=\"center\"><strong><a href=\"https:\/\/crypto-economy.com\/swiss-startup-seba-raises-103-million-to-launch-cryptocurrency-bank\/\">SEBA<\/a> <\/strong>is a crypto startup that launched 18 months ago. For the several months that it has been in existence, the company was seeking a license to operate in Switzerland from the country\u2019s financial watchdog the Swiss Financial Market Supervisory Authority FINMA. FINMA gave the license in August this year. SEBA went ahead to pilot its services with a select group of clients for a month and now the bank is fully operational locally this month as it seeks to attract select foreign clients in the coming month.<\/p>\n<p style=\"text-align: center\"><em>\u201cWe are proud to have founded a bank within 18 months, raised CHF 100 million [$101 million] in capital from investors and obtained a banking and securities dealer license from FINMA,\u201d <\/em>said Guido B\u00fchler, CEO of SEBA Bank AG in a statement.<em>\u201cWe are on track towards creating a new banking experience and redefining the customer\u2013bank relationship. Our customers should be able to take full advantage of the opportunities offered by the new asset classes without having to sacrifice security.\u201d<\/em><\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-11260\" src=\"https:\/\/crypto-economy.com\/wp-content\/uploads\/2022\/12\/FINMA21.jpg\" alt=\"A Boost on Blockchain Companies through the New FinTech Licence from Swiss Regulators\" width=\"696\" height=\"433\" \/><\/p>\n<p style=\"text-align: justify\">SEBA\u2019s services include the normal banking services of facilitating payments and offering loans. It will also allow for storage of up to five cryptocurrency assets. These<strong> Bitcoin, Ethereum, Stellar, Litecoin and Ethereum Classic<\/strong>. On top of these, there will also be a cryptocurrency card for its customers allowing for payments at more than 42 million points of sale worldwide. Account-holders will be able to hold their assets in the aforementioned cryptocurrencies or fiat currencies and will be able to convert between fiat and cryptocurrency whenever they so wish.<\/p>\n<p style=\"text-align: center\"><em>\u201cUsing the SEBAwallet app, E-Banking, and the SEBA Card, customers can manage at least five cryptocurrencies easily, securely and cost-effectively, and convert them into traditional currencies and vice versa online,\u201d<\/em> the release noted. B\u00fchler believes that th<em>e \u201cSEBA Card represents an important step towards the mass introduction of cryptocurrencies.\u201d<\/em><\/p>\n<p style=\"text-align: justify\">SEBA is now the second bank to receive regulatory approval from FINMA to launch banking services for cryptocurrency-related businesses. The first one was <strong><a href=\"https:\/\/crypto-economy.com\/swiss-cryptocurrency-bank-sygnum-gets-capital-markets-services-licence-in-singapore\/\">Sygnum<\/a> <\/strong>which now operates off Switzerland and Singapore. Both companies received the green light from FINMA around the same time in August. Synum, however, went live in September, close to two months before the launch of SEBA. In Singapore, Sygnum offers asset management services as opposed to banking services in its home country.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SEBA Bank AG (formerly SEBA Crypto AG), a newly regulated bank in Switzerland has launched its cryptocurrency banking services according to a press release published by the company on Tuesday.<\/p>\n","protected":false},"author":12,"featured_media":19963,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[102,74],"tags":[4602,5001],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/19957"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=19957"}],"version-history":[{"count":0,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/19957\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/19963"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=19957"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=19957"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=19957"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}