Seba, one of the few digital asset banks in the world, will launch a new round of financing in Switzerland for USD 96.5 million.
It is well known in the crypto world that the issue of regulations is quite complicated, there are many limitations established in almost all countries for the free development of the cryptocurrency-based economic activity. However, there is a European country whose regulatory framework favors cryptocurrencies. It is nothing more and nothing less than Switzerland, a state in which institutions such as the digital asset bank Seba have been erected.
Regulations in the Crypto World
It has already been discussed on several occasions that the issue of regulations is one of the most important to cryptocurrencies due to how they positively or negatively impact the development of crypto asset-based projects.
In general, most of the States have not yet been dedicated to the generation of specific regulations on cryptocurrencies. This situation leaves them in the gray territory of “non-legality”, in which they do not have the approval or disapproval from the State, nor its protection.
To make matters worse, the outdated status of most of the world’s laws causes difficulties for the creation of financial institutions essential for the crypto economy, such as digital asset banks that can provide the necessary financing to projects related to blockchain technology.
It should be noted that this is not the case in Switzerland since it has already demonstrated on other occasions its openness to the projects of the crypto world, being one of the few countries worldwide that has already declared that it would allow the launch of Libra in its territory. Besides, it has opened the doors to the formation of companies such as Seba, a digital asset bank that is in full expansion.
Thus, this financial institution would be one of the few digital asset banks on a global scale that has all the required regulatory licenses to operate. This would allow it to do a secondary capital rising of 96.5 million US dollars (USD) or 100 million Swiss francs (CHF).
Seba Bank AG is a recently launched company, which had not obtained all the permits to start operations until November of last year when the Swiss Financial Market Supervisory Authority (FINMA) approved its exit to the financial world.
Since the first fundraiser, Seba had reached 103 million US dollars, completing its financing and foundation process in just 18 months. Soon after, it partnered with Hypothekarbank, another Swiss-based bank, and is now making plans to expand to 9 other countries, among which are Italy, Austria, France, and the United Kingdom.
However, this initial capital seems to have been little for Seba and its expansion projects, which may have been its main motivation for the launch of this new round of financing. This also serves to demonstrate the speed with which events take place in the crypto world.
Seba and other initiatives of this type allow cryptocurrencies like Bitcoin to reach a larger market. Of course, countries around the world must favor the development of blockchain projects, particularly those related to crypto-assets.
By Willmen Blanco
