Swiss Bank SEBA Launches Crypto Index – ALTCOIN MAGAZINE

On Tuesday, SEBA, the Swiss bank that is heavily focused on crypto, announced that it had launched a crypto index as well as a slew of other investment solutions. The bank was given a banking license by the Swiss Financial Market Authority (FINMA) back in August.

About the Index

The index, which has been dubbed the SEBA Crypto Asset Select Index (SEBAX), is a risk-optimized index that has a broad market exposure of the crypto sector. To launch the index, the bank worked with EMV Index Solutions, a renowned firm in the indexing world.

Daniel Kuehne, Head of Asset Management at SEBA Bank AG, has been quoted as saying:

“ With our investment solutions, we want to offer investors the highest possible security and strengthen their confidence in the new, complex market environment of cryptocurrencies. With our product and investment expertise, we enable our clients to tap the new potential of digital asset classes with familiar rules from the existing financial world.”

The SEBA Banking License

SEBA was granted a banking license by FINMA in August. Anyone in the country can now use the services offered by the bank. At the time, the bank’s CEO, Guido Bühler, revealed that the bank had managed to garner over $100 million from investors in 18 months.

The bank offers wallets and cards that help users manage their crypto assets. They offer the SEBAWallet app, e-banking services, as well as a SEBA card. Thus far, the bank supports five digital currencies — Bitcoin, Stellar, Litecoin, Ethereum, and Ethereum Classic. Using the bank’s services, users can convert these digital assets into fiat. SEBA also plans to offer corporate accounts to Swiss blockchain firms as well as their employees.

It is Not the First to Receive Such a License

SEBA is not the only bank to receive such a license from Swiss authorities. Sygnum was also awarded one. Additionally, it was granted a capital market services license by Singaporean authorities. This allows the bank to offer asset management…

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