Ciba Bank, a Switzerland-based digital asset banking platform regulated by the Swiss Financial Markets Authority, announced on Wednesday that it had completed its Series C financing round of CHF 110 million, or $ 119 million. Notable investors in this round include cryptocurrency exchange FTX, quantitative cryptocurrency trading company Alameda Research, decentralized asset management company DeFi Technologies and venture capital firms such as Altive, Ordway Selections and Summer Capital.

The bank said it plans to use the funds to support international growth and stimulate demand from institutional investors in the digital asset industry. Seba is at the forefront of crypto innovation in Switzerland. In September 2021, the company received the first Swiss license to store digital assets. One month later, he launched a program that allows users to generate revenue from their property from DOT, XTZ and ADA. In December 2021, the bank issued its own gold coin that can be exchanged for physical gold on request, which can be used as a digital gold standard currency. Seba Bank started fully for professional investors and institutional clients in 2019.

Jonathan Ordway Fackelmeier, CEO of Ordway Selections, made the following announcement:

“We are pleased to be part of a leading investor alliance with Altive and Summer Capital. Both have in-depth knowledge of financial services and technology applications. Our association believes that SEBA is uniquely positioned to respond to the needs of a growing and demanding group of cryptocurrencies. investors around the world. ”

Source: CoinTelegraph