Switzerland-based crypto bank SEBA is attempting a second fundraising round to secure over $95 million for its development.
SEBA aims to spend additional funds on expanding its digital assets ecosystem.
The crypto-bank has been making significant moves towards enhancing its relevance in the crypto space, since its launch in 2019.
According to a report, the crypto-bank intends to secure 100 million Swiss francs ($96 million) from its planned fundraising event. Financial investors, family offices, and affluent individuals are all expected to donate.
Notably, SEBA only got its license 6-months ago. However, it has already become a significant institution that deals with cryptocurrency.
After SEBA’s launch, it has expanded into nine countries, including the UK, Germany, France, Portugal, Singapore, Italy, and Austria.
SEBA first fundraising success
Importantly, the fundraising event is not the first one. In November 2019, the crypto-bank carried out a fundraising event, which helped it secure over $103 million.
Accordingly, the funds were spent on the introduction of the SEBA Crypto Asset Select Index (SEBAX), which is a risk-optimized index. It also takes into account the broader crypto-investment market.
Besides, the bank started its operations after obtaining the Swiss Financial Market Supervisory Authority license by offering institutional and private clients a range of services with regards to digital assets and traditional finance.
Guido Bühler Seba CEO acknowledges the impressive development of the crypto-bank. According to him, “We are proud to have founded a bank within 18 months, raised CHF [Swiss francs] 100 million in capital from investors.”
Notably, the Swiss-based bank recently announced its offering of SEBAwallet app, e-banking services, and SEBA card facilities that support five significant cryptocurrencies. They include Bitcoin, Ether, Stellar, Litecoin, and Ether Classic.
Besides, the bank provides investors with crypto to crypto and crypto to fiat conversion services.