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Seba Bank, a Swiss digital asset banking platform regulated by the Swiss Financial Market Supervisory Authority, announced Wednesday that it has successfully closed a Series C funding round of 110 million Swiss francs or $119 million. Notable investors in this round include cryptocurrency exchange FTX, quantitative digital currency trading firm Alameda Research, decentralized financial asset management firm DeFi Technologies, and venture capital entities such as Altive, Ordway Selections, and Summer Capital.
The bank said it plans to use the funds to drive international growth and drive demand from institutional investors in the digital asset industry. Seba has been at the forefront of Swiss crypto innovation. In September 2021, the company was awarded the first Swiss Digital Asset Custody License. One month later, it started a program Earn money for users point, XTZ and have holdings. In December 2021, the bank launched its own regulated Convertible coins Physical gold on demand has the potential to be used as the gold standard digital currency.Seba Bank fully operational 2019 for professional investors and institutional clients.
Jonathan Ordway Fackelmayer, Chairman of Ordway Selections, issued the following statement regarding the development:
“We are delighted to be part of a consortium of lead investors with Altive and Summer Capital. They both have an in-depth understanding of financial services and technology applications. Our consortium believes that SEBA Bank is uniquely positioned to meet global cryptocurrency investments the growing and demanding needs of the users.”
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