A regulated crypto bank was opened in Switzerland for large investors

Swiss crypto bank SEBA Bank AG (formerly SEBA Crypto AG) launched services for professional market participants and corporate clients this Tuesday.

According to the announcement, the financial institution has a fully regulated status in Switzerland, confirmed by its banking and dealer licenses of the Financial Market Supervision Authority (FINMA).

SEBA says that its services are now available to new clients, which may include corporate education, asset managers and professional private investors. Starting in December, the bank will attract clients from certain foreign jurisdictions.

"We are proud to have opened the bank within 18 months, raised 100 million Swiss francs of capital from investors and obtained licenses from the bank and dealer," said SEBA CEO Guido Bühler, adding that customers should enjoy all the benefits of digital assets without sacrificing security.

The bank's services include the SEBAwallet application, e-banking services and its own card infrastructure supporting five leading cryptocurrencies: Bitcoin, Ethereum, Stellar, Litecoin and Ethereum Classic. The bank's customers have the opportunity to convert funds between cryptocurrencies and traditional currencies. Corporate clients represented by blockchain companies will have access to dedicated bank accounts.