SEBA Crypto AG Yet To Receive License By 2019-SEBA Crypto AG CEO said that five “large asset managers” from Germany and abroad are interested in Swiss Cryptocurrency bank.
According to CEO Guido, Buhler SEBA is the bridge between cryptocurrencies and the traditional financial world. Thus to set up services related to cryptocurrencies, the company has raised $103 million.
SEBA Crypto AG expects banking and securities dealer license in 2019 from Swiss financial market regulator FINMA. Once license approved then they can proceed with Crypto trading and investments business for other banks and professional investors.
SEBA planned to expand its operations into major financial hubs with Zurich in 2019.
SEBA Crypto AG Yet To Receive License By 2019-SEBA has thoughts to increase the capital upto $206 million through an Initial Coin Offering(ICO) and also SEBA was ready to safeguard the customers’ investment information in digital storage.
“As a general rule, Crypto assets, just like investments in stocks and bonds. Must be vested with our custodian bank function to the regulator.”
Suggestion from FINMA to banks and other financial services by a confidential letter has estimated risk coverage. Similarly which is at 800 percent of current market value. This is to cover the flat risk weight to cover market and credit risks either in banking or trading note.