SEBA Bank secures financial services permission from ADGM
SEBA Bank, a fully integrated, FINMA licensed digital assets banking platform, today announced that it has secured an FSP from Abu Dhabi Global Market (“ADGM”)’s Financial Services Regulatory Authority (“FSRA”) effective as of 07 February 2022.
Following receipt of this FSP, SEBA Bank has opened an office in Abu Dhabi ADGM to strengthen support for its regional partners in the provision of regulated digital asset services.
The FSP authorises SEBA Bank to conduct regulated activities in the ADGM, including advising on investments or credit, arranging credit and custody, and arranging deals in investments; pursuant to the Financial Services and Markets Regulations 2015 (“FSMR”).
SEBA is growth minded
In January, SEBA Bank closed a $120M Series C round enabling continued high-trajectory institutional business growth through further investment in product offering and technology. ADGM is part of SEBA Bank´s strategy to establish licensed presences in the markets which it serves. With the dedicated office in Abu Dhabi, the bank will further expand headcount across operations, sales, and business development in the region.
Guido Buehler, CEO at SEBA Bank, said, “This license is a valuable addition to our existing licenses, as a FINMA regulated banking and securities dealer and licensed provider of custody services for Swiss Collective Investment Schemes for Digital Assets.”
Dhaher Bin Dhaher Al Muhairi, CEO of the Registration Authority at ADGM, said, “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.”