SEBA Bank receives crypto asset holding license from FINMA

Switzerland-based SEBA Bank has announced receiving a license for the safekeeping of digital assets from the Swiss Financial Market Supervisory Authority (FINMA).

As a result, the firm is the first in Switzerland to be licensed under the Financial Institutions and Collective Investment Schemes Act (KAG). The bank obtained its banking and securities company license in August 2019.

SEBA provides access to five cryptocurrencies, including Bitcoin and Ethereum, through the SEBAwallet app. According to BTC-ECHO, the bank acts as the custodian for Crypto Finance’s crypto investment fund. This fund is open to institutional and professional investors alike.