SEBA crypto Bank to expand further into Middle East

FINMA Licensed Digital asset banking platform SEBA crypto Bank has raised $118.6 million in a Series C funding round. The funding will be used to expand into a number of priority markets such as the Middle East. The Round was co-led by crypto-focused firm DeFi Technologies, alternative investment platform Altive, and investment firms Ordway Selections and Summer Capital, Alameda Research and its core partner FTX . Existing investors, including Julius Baer, increased their positions in the funding round.SEBA previously raised a total of $126.5 million, according to Crunchbase data

As per the press release, this funding round will further accelerate the considerable growth that SEBA Bank has achieved over the past year. SEBA crypto Bank is currently supporting over 25 markets globally, having strengthened its presence in APAC earlier this year by appointing an APAC CEO to solidify its presence in Hong Kong and Singapore; along with other priority markets in the Middle East including a dedicated office in Abu Dhabi. The company also deepened its executive talent with a number of appointments to the senior leadership team, and will further grow its headcount and expand into new markets.

Guido Buehler, CEO at SEBA Bank, said, “This funding represents a significant milestone for SEBA Bank, is a testament to our foundations, and confirms our vision of being a global leader in new generation finance, enabled by blockchain technology and our comprehensive banking license. With the support of such a strong group of investors, offering depth and breadth across the domains of finance, fintech, and blockchain, SEBA Bank is privileged to access a wide range of new skills and capabilities to fast-forward our growth plans. This funding will allow us to further develop our digital asset banking platform and strengthen our presence in markets across the globe by attracting new talent.”

Cheney Cheng, Managing Partner of Altive, said, “Given the global regulatory trend of digital assets, we envision that regulated crypto financial institutions like Swiss licensed SEBA Bank would become the cornerstone of the future finance. We are honored to have joined the company’s mission to make digital assets more accessible to the general public.”

Jonathan Ordway Fackelmayer, Chairman of Ordway Selections, said, “Ordway Selections identifies and invests into best-in-class digital assets and core blockchain infrastructure, such as SEBA Bank. We are delighted to be part of the “lead-investor” consortium alongside Altive and Summer Capital, who both hold a deep knowledge of financial services and technology applications. Our consortium believes SEBA Bank is uniquely positioned to respond to the needs of the ever growing and demanding pool of cryptocurrency investors worldwide.”