SEBA Bank, a Switzerland-based digital assets banking platform, has secured a Financial Service Provider (FSP) registration from Abu Dhabi Global Market’s (ADGM) Financial Services Regulatory Authority (FSRA).
SEBA Bank has opened an office in Abu Dhabi ADGM after receiving this FSP, to better serve its regional partners in the supply of regulated digital asset services. According to the Financial Services and Markets Regulations (FSMR) 2015, the FSP permits SEBA Bank to conduct regulated operations in the ADGM, such as advising on investments or credit, arranging credit and custody, and organizing investment deals.
SEBA Bank, licensed by Swiss Financial Market Supervisory Authority (FINMA), will be able to further accelerate its expansion with the opening of an office in Abu Dhabi. In January, SEBA Bank closed a $120 million Series C round enabling continued high-trajectory institutional business growth through further investment in product offering and technology.
“We are proud to receive a license from the ADGM FSRA to provide our digital asset banking services in Abu Dhabi. 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.”
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 businesses to seamlessly assist clients into the digital asset market. SEBA Bank is a leader in innovation in digital asset services and has launched a number of landmark products in response to client demand.
Mr. Dhaher Bin Dhaher Al Muhairi, CEO of the Registration Authority at ADGM, said that “We welcome SEBA Bank to ADGM’s expanding family of financial institutions at an incredibly exciting juncture for the thriving digital asset landscape. 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.”