Connect with us

Crypto

Swiss licensed crypto bank is expanding into 9 new markets

SEBA is a licensed Swiss bank that provides a secure and easy-to-use bridge between digital and traditional assets. The bank has announced that it is extending service to clients from selected foreign jurisdictions. The UK, Italy, Germany, France, Austria, Portugal, Netherlands, Singapore, Hong Kong are among them. The banks help people secure, trade and manage their cryptocurrencies in one place.

Published

on

This picture show a bank vault.

A Swiss crypto bank is expanding into nine new markets. The company holds a banking and securities dealer license, its services include crypto custody, trading and asset management. The bank has launched its investment business including a cryptocurrency index.

The Born2Invest mobile application brings you all the crypto and business news from trusted sources to a single screen so you can stay on top of the market. The application aggregates the most important and breaking news from relevant websites, the list is always revised and updated with new resources.

International expansions

SEBA Bank AG, formerly SEBA Crypto AG, is a crypto bank that is headquartered in Zug, Switzerland, in the famous “Crypto Valley”. The bank became fully operational and started onboarding Swiss clients after obtaining a banking and securities dealer license from the Swiss Financial Market Supervisory Authority (FINMA).

The bank has announced that it would extend its service to customers in certain foreign countries in December. A bank spokesman told that the selected jurisdictions are as follows: United Kingdom, Italy, Germany, France, Austria, Portugal, Netherlands, Singapore, and Hong Kong.

A bridge between crypto and traditional banking worlds

SEBA Bank aims to create a bridge between the traditional banking world and the crypto world. Its services include custody storage, trading and liquidity management, asset and wealth management, banking and tokenization.

These services are aimed at professional investors, banks, asset managers and blockchain companies. The spokesperson also clarified that the bank accepts BTC, ETH, ETC, LTC, XLM and NEO for its custody services.

Investment solutions and crypto index

The bank launched its investment activity with its crypto assets index called SEBA Crypto Asset Select (SEBAX). SEBA Bank has chosen MV Index Solutions GmbH (MVIS) to manage the index and act as administrator. GENTWO Digital was also asked to implement the specific restructuring requirements of the first investment solution.

SEE ALSO  Keywords research tips for busy entrepreneurs

“SEBAX is a dynamic, risk optimized index with broad exposure to the cryptographic asset market, ” the bank said.

Its objective “is to provide an index for the most secure, reliable and tradable crypto assets,” MVIS said. According to its fact sheet, the index was established on July 2 and is currently including five components that are rebalanced monthly. It is calculated daily with prices converted into USD. A maximum of eight crypto assets ranked by market capitalization are selected for inclusion in the index.

Index components 

MVIS has concluded a contract with Cryptocompare Data Ltd. to maintain and calculate the index. In November, the index components are 48.46% BTC, 26.70% ETH, 18.28% LTC, 3.43% XLM and 3.13% ETC.

Crypto assets must meet specific criteria to be eligible for the index. They should also be among the top 30 crypto companies in terms of market capitalization. MVIS specifies that stable coins and private tokens are excluded together with cryptos that do not fall within the listed MVIS eligibility rules.

__

(Featured image by 8385 via Pixabay)

DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.

This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.

First published in thecointribune, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.

Desmond O’Flynn believes in minimalism and the power of beer. As a young reporter for some of the largest national publications, he has lived in the world of finance and investing for nearly three decades. He has since included world politics and the global economy in his portfolio. He also writes about entrepreneurs and small businesses, as well as innovation in fintech, gambling, and cannabis industries.

Continue Reading

Most Popular