The SEBA (Switzerland) start-up attracted about $ 104 million to create a “regulated crypto-currency bank.”
This organization will overcome the gap between the crypto currency and traditional financial economies.
The success of the project, its creators - former employees of one of the largest banks in the world, UBS - is explained by the fact that most of the world’s regulators forbid traditional banks to work with crypto currencies, when there is an urgent need for such operations for a rapidly growing market.
SEBA intends to solve these problems by uniting a team of experts from Switzerland, focused on obtaining a license for trading in banking services and securities from the financial regulator of the country (FINMA) and developing a new finteh platform. In case of approval, SEBA intends to open online and physical banks to provide crypto-currency and traditional financial services.
Banks themselves also often are afraid to work with crypto currencies because of the risks associated with their volatility and decentralization.
It is difficult for crypto-currency companies and investors to transfer digital assets to a traditionally regulated banking world and take into account the growing number of transactions in a pair of Fiat / Crypto-currency.
SEBA and here it sees its niche for the work of cryptobank. SEBA is working to bring to the market products and services based on crypto-currency and blockchain-banking using a licensed and controlled universal banking solution for individuals, institutional and corporate investors.
Recall that experts from BlockShow Europe 2018 ranked the TOP-10 most friendly European countries for crypto currencies and blockchain projects, in which the first place went to Switzerland.
FINMA also announced recommendations aimed at helping local startups launch lCO in accordance with Swiss law. Switzerland is also home to world-class research institutions, including the Swiss Federal Institute of Technology (ETH Zurich) and the Federal Polytechnic School of Lausanne (EPFL). "
And this despite the fact that FINMA conducts a strict monitoring policy and even launched an investigation against Envion AG in connection with possible legal irregularities during the ICO of the EVN token.