Leading Swiss crypto banking service provider, SEBA Bank, has just sealed a Series C funding round worth $119 million.
The digital assets banking platform, SEBA Bank, announced that it has raised $119 million to accelerate the platform’s international growth in the Asia-Pacific region (APAC) and the Middle East. The investment will help drive demand from institutional investors in the digital assets industry. The new funding has reinforced the future-proof business model of SEBA as the bank of the new economy.
Last year, SEBA, in a bid to expand global business appointed a CEO for its APAC market to oversee operations especially in Hong Kong and Singapore along with an office in Abu Dhabi to concentrate on the Middle East.
Details Of The Investment
The fundraising witnessed prominent blockchain and fintech investors including alternative asset management company for technology, consumer, and healthcare sectors, Altive, private investment firm Ordway Selections, investment management company, Summer Capital, and decentralized finance asset management firm, DeFi Technologies co-leading the round. Other noteworthy investors were Alameda Research, a global cryptocurrency quantitative trading firm, and liquidity provider as well as a core partner of FTX.
As per the official blog post, SEBA has gained a formidable position as one of the leading digital asset banking services providers. The raised capital will allow the licensed financial institution to become a cornerstone for the future finance industry. The company also aims to make digital assets more accessible to the general public. The Swiss crypto service provider declared,
“By leveraging the strategic expertise of these specialist partners, SEBA Bank will maintain its commitment to innovation and excellence in its digital asset banking and investment services.”
The Regulated Swiss Cryptocurrency Bank
Established in 2018, SEBA Bank AG is a new innovative bank aimed at providing seamless integration between digital and traditional assets. The platform lets institutions generate income from proof-of-stake (PoS) protocols such as Polkadot, Tezos, and Cardano, among other networks. The company had received a license from the Swiss Financial Market Supervisory Authority (FINMA) in 2019 marking the first time a company focused on digital assets to receive a license from the regulator.
Jonathan Ordway Fackelmayer, Chairman of Ordway Selections, said that Ordway Selections always aims to identify and invest in best-in-class digital assets and core blockchain infrastructure. He went on to add,
“We are delighted to be part of the “lead-investor” consortium alongside Altive and Summer Capital, who both hold a deep knowledge of financial services and technology applications. Our consortium believes SEBA Bank is uniquely positioned to respond to the needs of the ever-growing and demanding pool of cryptocurrency investors worldwide.”
