Regulators in Switzerland have formally approved banking and security dealer licenses for two digital asset-focused banks. The two firms, Sygnum and Seba Crypto AG, confirmed in online statements today that the Swiss Financial Market Supervisory Authority (FINMA) has granted them licenses.
Sygnum, which describes itself as a digital asset technology group, suggested that the licensing marks a milestone in the drive to institutionalize the digital asset economy. According to Co-Founder and CEO Singapore Mathias Imbach, the approval paves the way for new banking solutions that will benefit the industry and its customers:
“This licence is a major landmark on our mission to empower digital asset banking by building integrated, secure products and services with seamless customer experiences. We are looking forward to taking Sygnum’s integrated digital asset banking solution to market, together with our valued customers and partners.”
Seba CEO Guido Bühler noted the historic nature of the licensing approval, and its ramifications for the future of digital banking:
“Today SEBA sets a new standard as a licenced integrated bank connecting the old and the new world. SEBA is a safe gateway between traditional banking and the digital asset market. We are proud to have built, in only 17 months, a licenced bank that fits into the digital environment of the 21st century.”