Swiss cryptocurrency bank SEBA has secured a Series C funding round, raising ~$120 million from a consortium of specialized blockchain and fintech investors, comprised of Altive, Ordway Selections, and Summer Capital. Alameda Research and core partner of FTX also participated in the funding.
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The bank said in an announcement that the round was "significantly oversubscribed." Existing investors, including Julius Baer, increased their positions in the round, SEBA added. SEBA plans to use the proceeds to further accelerate its growth and expand into new markets.
"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," said SEBA Bank CEO, Guido Buehler.
The funding round comes just a month after SEBA launched its own token backed by gold called Gold Token. The regulated token allows investors to redeem their physical gold on-demand "at any time from partner refineries – avoiding costly transport and storage fees." SEBA says the gold token can also be utilized as a stablecoin.
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