Cryptocurrencies
Ex-UBS Bankers Raise Funding for a Swiss Cryptocurrency Bank
- Seba raises $104 million from private, institutional investors
- Company in talks with Swiss financial regulator since April
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Seba Crypto AG, a Swiss financial services company run by ex-UBS Group AG bankers, said it raised money as it seeks to become one of the world’s first regulated banks to let consumers easily swap dollars and euros into cryptocurrency.
The Zug-headquartered company said it secured 100 million Swiss francs ($104 million) from private and institutional investors for the venture, which is dependent on being granted a banking license from Finma, the Swiss financial regulator.