Cryptocurrencies are steadily developing and reaching new countries. In Switzerland, for example, the first bank that supports the use of cryptocurrency has just opened today. SEBA Bank AG officially announced that everyone can now start their own accounts. The corresponding license has been granted by the Financial Market Supervisory Authority. This significant event was commented on by representatives of the firm:
"We are proud to have founded a bank within 18 months, raised CHF 100 million in capital from investors, and obtained a banking and securities dealer license from FINMA."
According to the CEO of the bank, the organization's customers can fully experience all the advantages of cryptocurrencies, while maintaining maximum security. The bank's specialists guarantee maximum security of deposits and the option to use both crypto and more familiar traditional assets. The user-friendly mobile interface simplifies routine processes. The bank has also issued its own cards. These cards are linked to the application and expand the range of opportunities for users of the company's services. Currently, the "big five" currencies of the digital market are supported, specifically Ethereum, Stellar, Litecoin, and Ethereum Classic with Bitcoin. If necessary, you can change the deposit and convert digital currencies to Fiat money.
Both individuals and legal entities can start the cooperation:
“They will be able to have accounts and custody for fiat and digital assets and tokenize assets according to their needs. This is a new and extremely important step for the Blockchain and digital asset economy.”
So far, this service is only available for Swiss residents, but the company is already looking to enter foreign markets. According to the company, licensing their bank will provide legitimacy to thousands of enterprising businessmen who will start their businesses with the help of cryptocurrency. Indeed, SEBA's model has already been followed by Arab Bank, which offers features for using Bitcoin and Ethereum. Resonance also impacted the stock exchanges. Some companies with histories spanning over a century have begun working with cryptocurrencies. Keep up with the cryptocurrency industry news with us. We only publish interesting and high-quality content. See you soon!