Crypto - Fully Regulated Crypto Bank Opens Doors in Switzerland!
Crypto just got a nice boost from the Swiss
In a news report out this morning, it was revealed that the Swiss bank SEBA officially launched.
What's particularly interesting about this bank is that it's a crypto bank.
A full fledged, regulated, crypto bank.
Per the report...
SEBA Bank AG (formerly SEBA Crypto AG) is a fully-regulated banking institution, having secured a banking and securities dealer license from the Swiss Financial Market Supervisory Authority (FINMA) in August of this year.
The bank will be geared towards professionals, institutions, and corporations.
What will it offer?
According to the release, it will offer several crypto friendly services.
It will offer a wallet for 5 major cryptocurrencies: Bitcoin (BTC), Ether (ETH), Stellar (XLM), Litecoin (LTC) and Ether Classic (ETC).
It will also offer e-banking services as well as card abilities, which could help pave the way for mass crypto adoption.
From the release:
"The bank provides investors with both crypto-crypto and crypto-fiat conversion services online and SEBA cards are supported at 42 million points of sale globally, paving the way for the “mass introduction of cryptocurrencies."
(Source: https://cointelegraph.com/news/regulated-swiss-crypto-bank-seba-opens-doors)
They will also offer state of the art custody services/features.
And finally they will offer the ability to launch and perform ICOs for institutions, accredited investors, and companies/businesses.
All fully regulated!
Oh and did I mention they raised over $100 million from investors, which means they are well capitalized!
(Source: https://coinnounce.com/switzerland-based-cryptocurrency-bank-seba-goes-live/)
My thoughts...
In my opinion, this is very big news.
Not only will they do all of the above but they also mentioned they will be targeting foreign business/investors.
Which means people that have been having trouble getting projects off the ground due to local regulations etc now have a place where they can go to get their projects up and running.
This is a huge win for crypto and hopefully is the start of more of these types of banks popping up all over the world.
This is all part of process of the infrastructure continuing to be built.
And as much as we all hate regulations, they are an important part of the maturation of the space. The really big money likely won't participate unless/until there are adequate protections in place.
This is all part of that process.
A few years from now it will probably be night and day compared to what it looked like in 2018.
I for one, cannot wait.
Stay informed my friends.
Image Source:
-Doc
wOW! Cool new bro. I hope CRYTPO time is very near and I can feel it.
I am thinking so. Hopefully some of the alts go along for the ride as well.
Excellent! 👌👌👌 Cool new.
I thought so as well.
Really I don't understand the sense to centralize crypto because the point and advantage of the crypto is that is decentralized by nature.
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How is this centralizing it?
big news! thx for sharing
You got it.
Great news! Banks are chainging
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This is certainly important news, especially coming from Switzerland, a country (in)famously known for its banking and financial system.
Hopefully this catches on to the rest of Europe soon :-)
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I wonder if they earn interest in crypto...
I believe so. There are a few services already offering that.