According to a recent local new report by ‘Reuters,’ SEBA which is reportedly headed by former UBS bankers with ‘Guido Buehler’ as its CEO and Andreas Amschwand as chairman plans for a banking and securities dealer license from Swissmonetarymarket regulator ‘FINMA’. The license wouldenablethe firm to conduct cryptocommercialismand investments in business foralternativebanks and qualified investors.
Guido told Reuters that SEBA aims to become a bridge betweenthe current bankingand thedigital currencybusinesses. The startupconjointlyintendsto offercorporatefinance,as well asconsultations on Initial Coin Offerings [ICO’] along withalternativedigital asset-related services tothe corporate clients.
Andreas while commenting on the project added:
“InSwitzerlandwe’ve gotcommitment fromseveralauthoritiesto determinea comprehensiveregulative surroundingsforthe eventof blockchain technologyand also thesustainable, stable growth of crypto assets.”
SEBA issupposedlyworking toexpand its operations into majormonetaryhubs,beginningwith the Zurichcityin 2019. Investorssupporting theSEBAembodycompanies including BlackRiverAssetManagement and Hong Kong-based Summer Capital,together withalternativeparties fromSwitzerland, Singapore, Malaysia, China andHong Kong.
Earlier this month,the SwitzerlandBankers Association [SBA] issued basictipsfor banksoperatingwith the blockchain startupsso asto forestalla mass crypto exodus fromthe countrybecause of the regulativearbitrage.
In line with the working scheme provided bySBA, blockchaincompanieswithout ICO’sought tobe treated likealternativesmall- and medium-sizedfirms while the firmswith ICO’sshouldfollow strict rules andcomprisethepurviewof Switzerland’s anti-moneyLaundering[AML] and know-your-customer (KYC) regulatory laws.
Earlier in August, the Maerki Baumannpersonalbank begansupportingcrypto assets from payment received for services rendered,in additionto thoseattainedfrom crypto mining. Maerki Baumann noted thatthey’renotable toofferdirect cryptocurrency investments buthowevercanofferexperts toinvestors interested aboutcryptoinvestment.
Even earlier in June, Hypothekarbank Lenzburg becamethe primarybank inSwitzerlandto offerbusiness accounts to blockchain and crypto-related fintechfirms. However, the bank is reportedlyterriblyselective inacceptingnew customers, and as ofJunehad taken onsolely2firmsfrom the cryptophase.