The first adjustable cryptobank will be opened in Switzerland

Former UBS executives collected $ 104 million to open an adjustable SEBA cryptobank with a banking license issued by the Swiss Financial Regulator (FINMA).

Representatives of SEBA say they have already launched the process of registration of permits and plan to receive it until the end of October 2018. Startup attracted $ 104 million from private investors and venture houses, and after the approval of the FINMA submitted application will begin a new phase of fundraising to capitalize the bank and insurance of depositors.

SEBA is a symbiosis of an investment bank and a hybrid cryptocurrency exchange, which will allow customers to store and trade fiat and virtual currency, relying on the services of the assets management company. In fact, the cryptobank will also work as traditional, but with products adapted for crypto industry.

According to the founders, the current Cryptor Correction does not affect their plans and the interest of investors, since short-term fluctuations will not change the long-term prospects for a new class of assets. After launching in Switzerland, the company intends to open branches in Europe and Singapore.

Although large banks still do not work with cryptocurrency directly, but more and more use basic technology. Recently, a large Chinese bank said that invested $ 1.3 billion in Emissia