SEBA Bank, a fully integrated, FINMA licensed digital assets banking platform secures an ADGM license and opens an office in Abu Dhabi UAE. SEBA Bank has specifically secured an FSP( Financial Service Permission) license from Abu Dhabi Global Market (“ADGM”)’s Financial Services Regulatory Authority (“FSRA”) effective as of 07 February 2022. As SEBA Bank secures an ADGM license, and following receipt of this FSP, It 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 authorizes 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”).

The office opening in Abu Dhabi will further accelerate the considerable growth that SEBA Bank has achieved over the past year. In January, SEBA Bank closed a USD 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 we serve. 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, “We are proud to receive a license from the ADGM FSRA to provide our digital asset banking services in the ADGM. 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. Backed by the UAE’s sovereign wealth fund, Mubadala Investment Company, Abu Dhabi’s international financial services center, ADGM is a leading global hub for driving innovation in technology and business development and will offer valuable support in meeting our growth objectives for the region. Our new office in the thriving business and financial district on Al Maryah Island will serve as a strategic hub for SEBA Bank to cater effectively to the evolving needs of our customers in the UAE and across the region.”

Dhaher Bin Dhaher Al Muhairi, CEO of the Registration Authority at ADGM, said, “We welcome SEBA Bank to ADGM’s expanding family of financial institutions at an incredibly exciting juncture for the thriving digital asset landscape. 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. We look forward to supporting the SEBA Bank in its global growth strategy and serving as the GCC hub for business, financial services and client servicing activities.”

SEBA Bank is the Swiss smart bank providing a secure, institutional-grade, universal suite of regulated banking services for the new digital economy. As one of the world’s first fully licensed banks with a core capability in digital assets.

Christian Borel, Senior Executive Officer and Branch Manager at SEBA Bank AG ADGM, added, “The UAE is a global leader in digital assets and blockchain, with the Emirates Blockchain Strategy 2022 providing a clear plan for cementing its place as a global hub for blockchain innovation. Abu Dhabi has established clear regulatory frameworks which allow licensed companies to operate with clarity in the country. As a regulated bank, SEBA Bank can act as a trusted counterparty to those interested in digital asset investment and banking services in the region.”

Guido Buehler, CEO at SEBA Bank spoke to UNLOCK briefly and when asked about expanding their offering in the UAE and acquiring a fully integrated digital assets banking license he noted, ” We will be seeking to acquire a full fledge digital assets banking license such as the one we have with FINMA through ADGM. We will also be applying for licenses in Hong Kong and Singapore.”

ADGM has been at the forefront of virtual asset regulation in the region.

Article updated at 12:32 UAE Time.

The post SEBA Bank secures UAE ADGM license appeared first on UNLOCK Blockchain.