Switzerland’s SEBA Bank Is Planning Another $100 Million Fundraising Round

After scarcely a year into its reality, Switzerland-based cryptocurrency bank – SEBA – is making increasingly huge strides towards extending and showing its growth in the digital assets ecosystem.

As indicated by a recent report, the crypto startup that received its financial permit just in August 2019 is setting up another fundraising event, one that plans to raise more than 100 million Swiss francs (i.e. $96.5 million) from new investors which incorporate affluent individuals, family offices, and financial investors.

The first fundraising event of the bank was successful, with the investment round raising over $103 million back in November 2019.

SEBA Bank, right after the first raising support round, had presented the SEBA Crypto Asset Select Index (SEBAX) in December, which is a hazard streamlined record considering the more extensive crypto-investment market into account. Following the equivalent, the crypto-bank began its activities by offering institutional and private customers a scope of services with respect to digital assets as well as traditional bank.

SEBA Bank AG was formally launched on November 12, 2019 after the digital assets bank procured its regulatory leeway from the nation’s Financial Market Supervisory Authority (FINMA), a permit that enabled it to start its operations in the financial division.

Recently, the bank made a statement –

“There is still a tremendous gap between traditional banking on one side and decentralized finance on the other side. SEBA Bank, an integrated bank focused on digital assets, works as a bridge-builder offering a comprehensive range of services in digital as well as in traditional finance.”

Since the receipt of the previously mentioned regulatory clearance, the bank has extended its activities to a large group of nations and at press time, it was serving clients from France, Italy, Germany, Hong Kong, and Singapore.

The success of their 2nd fundraising would be an instrumental accomplishment as the organization is required to extend its tasks to more nations, within a year of it getting regulatory clearance from the Swiss authorities.