Swiss Crypto Bank ‘SEBA’ Will Custody Blue-Chip Ethereum NFTs

The Swiss-based fintech has launched a custody solution for NFTs like CryptoPunks and Bored Apes. SEBA Bank is the first financial institution in Switzerland to receive regulatory license to custody digital assets.

Swiss Crypto Bank ‘SEBA’ Will Custody Blue-Chip Ethereum NFTs


SEBA Bank, a Swiss crypto-friendly fintech, has announced the launch of its new institutional-grade custody service for non-fungible tokens (NFTs). The platform will allow the crypto bank to hold private keys to wallets containing NFTs on the owners’ behalf.

 

 

SEBA will store Ethereum-based (ERC-71) blue-chip NFTs including CryptoPunks, Bored Apes and CloneX, in a “highly-secure and independently audited” custody platform. SEBA offers a wide range of crypto asset services including trading with over 16 cryptocurrencies, crypto investment solutions, crypto credit and lending services, crypto staking and custody solutions.

 

“As a licensed and FINMA-regulated Swiss bank with core competence in cryptocurrencies and digital assets, we enable all of our clients to handle traditional and digital assets securely. The range of services combined with the highest security standards make SEBA Bank’s service offering unique and we are pleased to be able to support our clients with our expertise in expanding our service by offering NFT custody,” said Urs Bernegger, Head of Markets and Investment Solutions at SEBA.

 

The digital bank is the first financial institution in Switzerland to receive regulatory approval from the Swiss FINMA (Financial Market Supervisory Authority) to custody digital assets for individuals and institutional investors. SEBA claims to be the first bank to offer custody service for non-fungible tokens.

 

“NFTs are disrupting the art, gaming, and investing industries. With strong communities supporting the technology, it is clear there is tremendous potential for NFTs and clear demand for trusted custody solutions. SEBA Bank is proud to be the first regulated bank to offer NFT custody, and with NFTs custodied within their Swiss Bank account, clients can include them in the total wealth picture and manage them like any other digital asset,” said the bank in a statement.

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