Swiss startup SEBA Crypto AG, which in September raised $103 million to run licensed cryptocurrency Bank plans to increase capital to $206 million through the ICO.
Previously co-founder and CEO of SEBA Crypto AG buechler Guido (Guido Bühler) said that the startup intends to become a “bridge between traditional banking and cryptocurrency industry.” In the November interview with Cash he said that the launch of kleptomanka expressed interest in “five major management companies” from Germany and other countries.
According to Buhler, the company expects to obtain dealer license for banking and securities at Swiss financial regulator FINMA in the first half of 2019.
Their target clients SEBA Crypto sees not only institutional investors, but also family businesses, and entrepreneurs, said buechler.
For institutional clients SEBA also wants to offer banking Depositary functions that is beyond the scope of digital preservation cryptocurrency assets.
“As a rule, cryptocurrency assets as investments in stocks and bonds, must be transferred to our custodian Bank service, according to the regulator,” — said the head of SEBA Crypto AG.
He added that part of the attracted funds previously used to establish the Bank, and the other part will serve as a reserve capital. The startup plans to increase its total capital to $206 million through the initial offering of coins.
Earlier, FINMA has given instructions to banks dealing with cryptocurrencies to apply eightfold risk assessment in relation to market value in the calculation of capital provisioning.