By Lucas Williams
As per the latest reports, SEBA Bank AG has made an announcement in regards to the approval of a new license. SEBA Bank AG is a major institution that is fully regulated and is based in Switzerland. It is one of the major institutions that is known for providing users with cryptocurrency assets-related services.
The SEBA Bank has announced that it is successfully acquired a new license from the financial authority of Switzerland. The sources reveal that the name of the particular license it has acquired is a CISA license. The authority responsible for granting the particular license is the Financial Market Authority (FINMA) from Switzerland.
The license would reportedly facilitate a custodial service that would be institutional grade. With the acquisition of the license, the platform will be able to offer schemes to locals involving collective investments. The announcement in regards to the acquisition of the CISA license was made by SEBA Bank on Wednesday, September 29, 2021.
By acquiring a CISA license, SEBA Bank has not only become the first-ever bank in Switzerland but in the entire world to have acquired a custody license. With this, SEBA Bank will be able to operate as a provider of digital assets and cryptocurrencies.
The license would allow SEBA Bank to provide more and diverse investment options and opportunities to its clients. The firm has revealed that over time, it has recorded a rise in demand from its clients for gaining exposure to cryptocurrency markets.
The cryptocurrency markets are constantly growing in size and demand around the world. However, Switzerland has emerged as a country that is welcoming and very supportive of cryptocurrencies. Therefore, cryptocurrencies have a much brighter future on Swiss soil compared to other countries from around the world.
By issuing a license, Switzerland has become the first country that now legally grants its banks the ability to provide cryptocurrency and digital asset services to users.
It was back in 2018 when the SEBA Bank had been founded. The foundation of the bank had been laid to act as an entity that would endorse and promote the adoption of cryptocurrencies.
This is the reason the moment SEBA Bank launched its operations, it gained a lot of prominence and adoption throughout the country. The platform has gained a tremendous amount of investments from the local investors and it keeps getting better for the firm.
With time, the investors have grown more used to the digital banking system and therefore, the platform is recording a very high adoption rate. Since the launch, SEBA Bank has become a pioneer in Switzerland for promoting digital assets and cryptocurrencies in the country. The bank is determined to offer more services and cryptocurrencies to users going forward.