Gate Ventures – digital finance exchange, Gate.io’s venture arm – has announced its involvement with SEBA Bank’s Series C round, worth $119 million, in association with Altive.
Established in 2018, SEBA Bank is a digital bank licensed under FINMA (Swiss Financial Market Supervisory Authority), with its headquarters in Zug, Switzerland. The licensed bank provides digital banking, custodial, and transaction services to HNIWIs (High Net Worth Individuals) and institutions.
SEBA Bank is currently operating in more than 25 regions and countries around the world, with over 1.400% of annual growth in terms of trade volume. According to Gate Ventures, SEBA Bank is a well-positioned institution and has the ability to capture the increasing adoption of various digital assets and help reshape the whole cryptocurrency market.
Advertisement
With the required finance raised, SEBA aims to submit an application for getting a license in various countries, such as Singapore, Abu Dhabi, and Hong Kong, and spread its operations and empower its operational presence in main regions.
According to Gate.io’s Marketing Manager, Marie Tatibouet, Gate Ventures is built on a key objective to invest in promising and fresh firms in the cryptocurrency space. It is believed that the crypto finance market is still not adequately developed to woo innovators who are driven by growth. With increasing participants in this industry that better meets the expanding demands for institutional custody, this will allow investors to store and use cryptocurrencies securely, and SEBA Bank is the best option for this growth.
The digital market has witnessed its first-ever blow of institutional inflow, and Gate Ventures feels convinced that now is the best right for them to invest in SEBA Bank and digital banks alike. With the introduction of more banking and financial providers to digital currencies, institutional adoption will increase drastically in the future.
By reducing the gap between decentralized finance and TradFi, mass adoption of digital assets is most likely to follow.
Advertisement
A global digital venture fund, Gate Ventures, is determined to invest in decentralized ecosystems, applications, and infrastructure and reshape the globe in the digital era. Being part of the Gate.io ecosystem, Gate Ventures will offer operational resources and financial expertise to the cryptocurrency communities for the next-gen innovations.
