The Swiss SEBA Bank was able to obtain a license to operate in the global market of the capital emirate of the United Arab Emirates, Abu Dhabi (ADGM).
Cryptobank will be able to conduct regulated activities in ADGM, including advising on investment and lending, as well as organizing investment transactions with digital assets.
The company hopes that the global Abu Dhabi market will serve to develop the bank’s client base. Thanks to the obtained license, SEBA will expand its staff in the UAE and hire specialists for business development in the region.
In January, SEBA Bank completed another round of financing for $120 million, which made it possible to increase the range of products and invest in new technologies:
“The UAE is now a global leader in digital currencies and blockchain, and the Emirates Blockchain strategy, which they plan to implement by the end of 2022, will only strengthen their position,” said Cristina Borel, CEO of the UAE crypto bank.
Recall that in September last year, SEBA bank received a FINMA license, which allows the bank to provide custodial services to institutional investors.
Source: Bits
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