SEBA Bank to Tokenise Its Series B Equityby Company Announcement February 1, 2021
SEBA Bank, a digital assets firm with a Swiss banking license from FINMA, announced that it is issuing its Series B equity to shareholders as security tokens using blockchain.
In December, SEBA Bank announced it would tokenise its shares of the Series B fundraising when the blockchain law came into force in Switzerland where the firm did not disclose the amount of capital raised.
The SEBA Bank equity tokens are fully secured by the DLT Law, and shall be issued and held within its banking-grade digital custody in a FINMA regulated environment. The SEBA Bank equity tokens are fully compliant with Swiss private and corporate law.
SEBA Bank’s equity tokens are based on ERC20 Ethereum protocol and are fully engineered to allow seamless connectivity for trading and liquidity on future internationally recognised digital liquidity venues.
SEBA Bank is now able to offer a new standard of security, efficiency and flexibility in digital corporate finance and asset tokenisation capabilities.
Hans Kuhn, Board member of SEBA Bank said,
“With the DLT law coming into force today, Switzerland reaffirms itself as one of the most progressive and innovative legal and regulatory jurisdictions around the world that now fully supports the issuance of digital securities on a native blockchain basis.
This marks a major step forward in enabling and securing the innovation expected of security token issuance.”
Guido Bühler, CEO of SEBA Bank said,
“SEBA Bank’s strategic position providing a secure bridge between the traditional and the digital banking worlds now includes a fully integrated, banking grade asset tokenisation capability that puts SEBA Bank at the forefront of digital security issuance under one roof.
Our Digital Corporate Finance and Asset Tokenisation capabilities being demonstrated by the issuance of our Series B security tokens have established a compelling new solution for our clients to secure the benefits of tokenised securities and assets”.