- The Financial Services Permission (FSP) enables institutional clients to benefit from SEBA Bank’s digital asset banking services, including credit and custody solutions, investment advisory, and management
- SEBA Bank will leverage ADGM’s status as a leading global innovation hub to conduct regulated activities in the region
- Dedicated office and expanded regional headcount to drive institutional business growth and solidify status as regional leader in digital asset banking
Abu Dhabi, United Arab Emirates: SEBA Bank, a fully integrated, FINMA licensed digital assets banking platform, today announced that it has secured an FSP from Abu Dhabi Global Market (“ADGM”)’s Financial Services Regulatory Authority (“FSRA”) effective as of 07 February 2022. Following receipt of this FSP, SEBA Bank has opened an office in Abu Dhabi ADGM to strengthen support for its regional partners in the provision of regulated digital asset services.
The FSP authorises SEBA Bank to conduct regulated activities in the ADGM, including advising on investments or credit, arranging credit and custody, and arranging deals in investments; pursuant to the Financial Services and Markets Regulations 2015 (“FSMR”).
The office opening in Abu Dhabi will further accelerate the considerable growth that SEBA Bank has achieved over the past year. In January, SEBA Bank closed a USD 120M Series C round enabling continued high-trajectory institutional business growth through further investment in product offering and technology. ADGM is part of SEBA Bank´s strategy to establish licensed presences in the markets which we serve. With the dedicated office in Abu Dhabi, the bank will further expand headcount across operations, sales, and business development in the region.
Guido Buehler, CEO at SEBA Bank, said, “We are proud to receive a license from the ADGM FSRA to provide our digital asset banking services in the ADGM. This licence is a valuable addition to our existing licenses, as a FINMA regulated banking and securities dealer and licensed provider of custody services for Swiss Collective Investment Schemes for Digital Assets. Backed by the UAE’s sovereign wealth fund, Mubadala Investment Company, Abu Dhabi’s international financial services centre, ADGM is a leading global hub for driving innovation in technology and business development and will offer valuable support in meeting our growth objectives for the region. Our new office in the thriving business and financial district on Al Maryah Island will serve as a strategic hub for SEBA Bank to cater effectively to the evolving needs of our customers in the UAE and across the region.”
Dhaher Bin Dhaher Al Muhairi, CEO of the Registration Authority at ADGM, said, “We welcome SEBA Bank to ADGM’s expanding family of financial institutions at an incredibly exciting juncture for the thriving digital asset landscape. ADGM constantly seeks to advance its financial services offering to enhance the vibrant ecosystem and contribute to the growth and diversification of the Abu Dhabi economy. We look forward to supporting the SEBA Bank in its global growth strategy and serving as the GCC hub for business, financial services and client servicing activities.”
SEBA Bank is the Swiss smart bank providing a secure, institutional-grade, universal suite of regulated banking services for the new digital economy. As one of the world’s first fully licensed banks with a core capability in digital assets, SEBA Bank is trusted by investors, financial institutions, and corporations to seamlessly guide clients into the digital asset economy. SEBA Bank is a leader in innovation in digital asset services and has launched a number of landmark products in response to client demand.
Christian Borel, Senior Executive Officer and Branch Manager at SEBA Bank AG ADGM, added, “The UAE is a global leader in digital assets and blockchain, with the Emirates Blockchain Strategy 2022 providing a clear plan for cementing its place as a global hub for blockchain innovation. Abu Dhabi has established clear regulatory frameworks which allow licensed companies to operate with clarity in the country. As a regulated bank, SEBA Bank can act as a trusted counterparty to those interested in digital asset investment and banking services in the region.”
Guido Buehler, CEO of SEBA Bank is available for interview
About SEBA Bank AG – Redefining Finance for the New Economy
Founded in April 2018 and headquartered in Zug, SEBA Bank is a pioneer in the financial industry and is the only global smart bank providing a fully universal suite of regulated banking services in the emerging digital economy. In August 2019, SEBA Bank received a Swiss banking and securities dealer licence, and in September 2021 the CISA licence – the first time a reputed, regulatory authority such as FINMA has granted such licences to a financial services provider with a core capability in digital assets. The broad, vertically integrated spectrum of services combined with the highest security standards, make SEBA Bank’s value proposition unique – this is why Banque de France selected SEBA Bank to test the integration of Central Bank Digital Currency (CBDC). CVVC Global Report and CB Insights name SEBA Bank as Top 50 Companies within the blockchain ecosystem. Aite Group awarded SEBA Bank with their 2021 Digital Wealth Management Impact Innovation Award in the category “Digital Startup of the Year”, and LinkedIn listed SEBA Bank as one of the Top Startups 2021 in Switzerland.
