Swiss SEBA Bank Secures FSP From ADGM To Extend Regulated Digital Asset Services to the Region | The Fintech Times

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The integrated Swiss Financial Market Supervisory Authority (FINMA) licensed digital assets banking platform SEBA Bank has secured a Financial Services Permission (FSP) from Abu Dhabi Global Market‘s (ADGM) Financial Services Regulatory Authority (FSRA); which came into effect earlier this month.

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 guide clients into the digital asset economy. SEBA Bank is a prominent figure in the innovation in digital asset services and has launched a number of landmark products in response to client demand.

Having received this FSP, SEBA Bank has established an office in Abu Dhabi ADGM to further support its regional partners in the provision of regulated digital asset services and further expand headcount across operations, sales, and business development in the region.

SEBA Bank CEO Guido Buehler
Guido Buehler

“We are proud to receive a licence from the ADGM FSRA to provide our digital asset banking services in the ADGM. This licence is a valuable addition to our existing licences, as a FINMA regulated banking and securities dealer and licensed provider of custody services for Swiss Collective Investment Schemes for Digital Assets,” comments SEBA Bank CEO Guido Buehler.

“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.”

The FSP gives the Bank the green light to conduct regulated activities in the ADGM, including advising on investments or credit, arranging credit and custody, and arranging deals in investments; in accordance with the Financial Services and Markets Regulations 2015 (FSMR).

The office opening in Abu Dhabi will further facilitate SEBA Bank’s regional growth. In January, SEBA Bank closed a $120million Series C round, enabling continued high-trajectory institutional business growth through further investment in product offering and technology.

Dhaher Bin Dhaher Al Muhairi, CEO of the Registration Authority at ADGM
Dhaher Bin Dhaher Al Muhairi

“We welcome SEBA Bank to ADGM’s expanding family of financial institutions at an incredibly exciting juncture for the thriving digital asset landscape,” comments Dhaher Bin Dhaher Al Muhairi, CEO of the Registration Authority at ADGM. “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.”

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.”

  • Tyler is a Fintech Junior Journalist with specific interests in Online Banking and emerging AI technologies. He began his career writing with a plethora of national and international publications.

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Author: Tyler Smith