Bloomberg Seba raises $104 million from private, institutional investors
Company in talks with Swiss financial regulator since April
Seba Crypto AG, a Swiss financial services company run by ex-UBS Group AG bankers, said it raised money as it seeks to become one of the world’s first regulated banks and let consumers trade fiat money into cryptocurrency.
The Zug-headquartered company said it secured 100 million Swiss francs ($104 million) from private and institutional investors for the venture, which is dependent on being granted a banking license from Finma, the Swiss financial regulator.