SEBA Bank gains licence to custody collective investment schemes for digital assets
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SEBA Bank gains licence to custody collective investment schemes for digital assets 29 September 2021Switzerland Reporter: Maddie Saghir
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SEBA Bank has been granted a licence to act as a custodian bank for Swiss collective investment schemes (the CISA licence).
The new licence extends SEBA Bank’s fully integrated digital asset investment activities by offering digital custody services for Swiss domiciled mutual funds.
Additionally, it is an important new enabler of liquid investment funds with crypto or other digital assets as an underlying investment class, SEBA Bank explains.
According to the bank, this is the first licence granted in Switzerland by the Swiss Financial Market Authority (FINMA) to a custodian bank focused on digital assets.
Guido Buehler, CEO of SEBA Bank, states: “Two years ago SEBA Bank received a Swiss banking and securities firm licence and is now enjoying excellent business momentum as institutional adoption of crypto and digital assets accelerates globally.”
“With our new CISA licence, SEBA Bank continues its pioneering role in the institutional digital asset space. Asset Managers can now offer strategies based on crypto or other digital asset underlyings to a broader audience utilising Swiss-based mutual fund structures secured by SEBA Bank as the CISA-licensed custodian,” Buehler adds.
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