Swiss startup SEBA Crypto AG has acquired investments from main companies like Hong Kong’s Summer season Capital and Black River Asset Administration.
Summer season Capital Stakes in SEBA Crypto AG
Summer season Capital, an asset administration firm from Hong Kong dealing with upwards of $1 billion, has taken a stake in a Swiss-based start-up known as SEBA Crypto AG. The challenge goals to change into the very first cryptocurrency funding financial institution and is presently pending approval of its license utility which is filed with the nation’s authorities. As Bitcoinist reported, the corporate is run by former UBS bankers.
Purportedly, Summer season Capital can be fascinated by collaborating within the startup’s preliminary coin providing which is scheduled for 2019.
Talking on the matter was the asset supervisor’s spokesman Jack Chung, who stated:
We consider we might assist SEBA’s plan to increase into Asia, a area the place cryptocurrency buying and selling and blockchain tasks have been flourishing.
Black River Asset Administration additionally took half within the Collection A funding spherical which was price $100.eight million.
World’s First Licensed Cryptocurrency Financial institution?
In accordance with the agency’s Chief Government Guido Buhler, SEBA is anticipated to obtain its regulatory approval all through the second quarter of 2019.