The licensed Swiss cryptocurrency bank SEBA closed a Series C financing round of CHF 110 million (~$120 million). It was led by Altive, Ordway Selections, Summer Capital and DeFi Technologies.
🔉 SEBA Bank Raises CHF 110 Million In Series C Funding To Fuel International Growth And Drive Institutional Business 🚀
Read the full media release here: 📄 https://t.co/Qj4gieQQCD pic.twitter.com/Nk3EiD1BRe
— SEBA Bank AG (@WeAreSEBA) January 12, 2022
The funding was also provided by Alameda Research and existing shareholders, including Julius Baer.
The crypto bank will deploy the resources to expand into the Middle East and Asia-Pacific, primarily Singapore, Hong Kong and the UAE, as well as to develop technology and expand its product line.
SEBA currently operates in 25 jurisdictions. The crypto bank plans to double its staff over the next 12–18 months.
In December 2021, SEBA released a token backed by physical gold.
In October, the crypto bank announced the launch of SEBA Earn. The service will allow institutional clients to earn yields from crypto lending operations, DeFi and staking of cryptocurrencies, including Cardano, Polkadot and Tezos.
In September, FINMA approved the first crypto fund in accordance with the country’s laws. Its custodian became the crypto bank SEBA.
Earlier, another Swiss-regulated cryptocurrency bank Sygnum closed a Series B financing round of $90 million at a valuation of $800 million.
Subscribe to ForkLog news on Telegram: ForkLog Feed — the full news feed, ForkLog — the most important news, infographics and opinions