Yesterday Switzerland’s SEBA Bank announced it had closed its Series B funding. The digital asset bank previously partnered with Swiss private bank Julius Baer to enable its clients to access digital assets.
The investment figure of CHF 20 million (according to Coindesk) is significantly less than previous plans to raise up to CHF 100 million. But given the financial pressure on many Swiss cryptocurrency entities, this will be viewed as a success.
SEBA Bank announced in late 2018 that it raised CHF 100 million ($113 million). At the end of 2019, it started talking about raising another CHF 100 million, and yesterday’s announcement is the final result. Swiss banking publication Inside Paradeplatz described the Series A 100 million as “melting like snow in the sun”.
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