FINMA licensed SEBA Bank adds support for Bitcoin Cash and USDC

Swiss-based bank, SEBA licensed by FINMA extends its support for USDC stablecoin and Bitcoin Cash for its customers.

By · Nov 21, 2020 . 4min read

SEBA Bank adds support for cryptocurrencies

SEBA, a Swiss-based bank and licensed by FINMA, has started accepting two new cryptocurrencies; Bitcoin Cash and USDC stablecoin as part of its services to its customers.

As reported by The Payers, SEBA customers can start lending their Bitcoin Cash holding while engaging in trading, digital custody, FIAT lending and earn interests in USDC.

Already, SEBA bank supports a wide variety of fiat currencies. Some of them include CHF, USD, GBP, EUR, HKD, SGD and PLN. Asides BCH and USDC it newly added support for, SEBA bank also supports BTC, ETH, LTC, XLM, BCH, and USDC.

Any of SEBA customers, while transacting with SEBA, can use their services both in fiat and digital assets for making payments, settling transfers and equally leveraging the bank’s card services. They can do these via e-banking, SEBA wallet, SEBA trade, and FIX API.

SEBA is a Swiss bank founded in 2018 with headquarters in Zug. The bank went on to receive Swiss banking and securities dealer licence from FINMA in August last year. This allows it to expand its services beyond just deposit, withdrawals and lending services.

Its clients span individuals, private and institutional funds. Any of these can run self accounts or omnibus accounts services. It also affords its clients, especially those operating digital asset exchanges both fiat on-ramp and off-ramp services.

Before SEBA’s recent support for Bitcoin Cash and USDC, it launched security token services on Corda Network.

In July this year, SEBA and Corda-based Digital Asset Shared Ledger (DASL) sealed a partnership that allows it to offer asset securitization on Corda network. This makes it one of the first digital banks to giving its clients the ability to issue and invest in security tokens. Assets such as treasury bonds, foreign exchange contracts can all be traded on Corda’s open-source network – blockchain.

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