Swiss Bank Achieves Crypto First
SEBA Bank has been granted a license to offer digital crypto assets to Swiss-domiciled mutual funds – a first for Switzerland according to the FINMA-licensed Swiss Bank.
It was announced on Wednesday that SEBA has been granted a licence to act as a custodian bank for Swiss collective investment schemes pursuant to Art. 72 CISA (KAG).
A Bridge Between Digital and Traditional
In a statement SEBA, which provides a bridge between digital and traditional assets, said the licence will accelerate its growth by extending its institutional-grade digital asset custody services to Swiss-domiciled mutual funds.
This new licence extends SEBA Bank’s digital asset investment activities by offering digital custody services for Swiss-domiciled mutual funds.
The bank’s statement said it is ‘an important new enabler of liquid investment funds with crypto or other digital assets as an underlying investment class’.
Excellent Business Momentum
SEBA Bank Guido Buehler added: ‘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 and digital assets accelerate globally.
‘With our new CISA licence, SEBA Bank continues its pioneering role in the institutional digital asset space. Asset Managers can now offer strategies based on crypto or other digital asset underlying’s to a broader audience utilizing Swiss-based mutual fund structures secured by SEBA Bank as the CISA-licensed custodian.’
Author: Moni Talks
Moni Talks is a cryptocurrency trading exchange and social platform that is dedicated to the crypto community.