RATE Group | Swiss Banks Enter the Age of Bitcoin
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Swiss Banks Enter the Age of Bitcoin

22 Jan Swiss Banks Enter the Age of Bitcoin

Posted at 03:01h in Bitcoin News by

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DAVOS — Switzerland’s banking industry has long been known to privately safeguard wealth, so some bankers see bitcoin as a natural fit for the nation’s financial sector.

Although such bankers may still be a minority, Zurich-based SEBA Bank AG opened in November 2019 with a universal banking license and a suite of services ranging from fiat storage to crypto custody, a crypto-connected debit card that automatically converts to fiat on the backend for regular shopping and crypto-trading options through the bank’s mobile app.  

SEBA CEO Guido Bühler said the bank raised 100 million Swiss francs (roughly $103.4 million) from angel investors like Guy Schwarzenbach, founder of Black River Asset Management. 

Schwarzenbach said the pricing for SEBA app trades, enabled by backend API integrations with global exchanges, offered “extremely competitive” pricing compared to over-the-counter trades. 

“What I am really excited about for SEBA … is their upcoming deployment of a…

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