A new crypto step has been taken in Zug, the city of Switzerland whose name we often hear about with crypto initiatives.
A Zug-based financial services company will establish a ‘bank’ to enable its users to convert their fiat money into digital money. ‘.
According to Bloomberg’s report, Seba Crypto AG has provided the funds it has collected from private and institutional investors.
One of the people behind the initiative. , said they spoke to the Swiss financial authority known as Finna about applying for a license by the end of October.
The hope of those behind the Swiss ‘Crypto Bank’ initiative is that the banking license will be received by mid-2019. Crypto Bank is headed by two former UBS executives. Guido Buehler is the CEO, and Andreas Amschwand is the chairman.
“Building a Bridge Between Banking and Crypto”
CEO of Seba, the cryptobank initiative, Buehler said that the aim of the initiative is “traditional
According to Buehler, Seba will offer the best of many services for private and institutional investors, including custody, trading and digital asset management.
The CEO of Crypto Bank also thinks that Seba can “offer fiat and crypto bank accounts” and “fill an important missing element of the banking ecosystem”. Because, according to Buehler, many banks are not in favor of opening accounts to companies in the crypto space…
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