Swiss regulators approve custodian for digital assets

Approval follows SIX gaining regulatory approval for digital asset CSD and stock exchange earlier this month.

By Jonathan Watkins

SEBA Bank has been granted a licence to act as a custodian bank for Swiss collective investment (CISI) by the country’s regulator. 

The CISA licence fromthe Swiss Financial Market Supervisory Authority (FINMA) allows SEBA Bank to provide institutional-grade custody solutions globally for collective investment schemes with liquid crypto or digital assets as the underlying investment.

SEBA Bank claims it’s the first CISI custody license granted in Switzerland.  

The approval follows SIX Digital Exchange gaining authorisation to act as a central securities depository and the associated company, SDX Trading, to act as a stock exchange.   

This new licence extends SEBA Bank’s digital asset investment activities by offering digital custody services for Swiss domiciled mutual funds. 

“Two years ago, SEBA Bank received a Swiss banking and securities firm licence and is now enjoying excellent business momentum as institutional adoption of crypto and digital assets accelerates globally,” said Guido Buehler, CEO of SEBA Bank. 

“With our new CISA licence, SEBA Bank continues its pioneering role in the institutional digital asset space. Asset Managers can now offer strategies based on crypto or other digital asset underlyings to a broader audience utilising Swiss-based mutual fund structures secured by SEBA Bank as the CISA-licensed custodian.”