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BitBay has established a commercial relationship with SEBA Bank!

11-03-2021


BitBay, the biggest cryptocurrency exchange in Central and Eastern Europe, has established a commercial relationship with Swiss SEBA Bank, a leader in smart-banking. BitBay and SEBA Bank are evaluating potential areas of a cooperation, and this could mark the beginning of new standard of efficiency, flexibility and security in virtual operations and asset tokenization.

Cambridge Centre for Alternative Finance reports, that currently over 100M people around the world acquire digital assets. Compared to 2018 this number has increased by 189%. Experts claim cryptocurrencies are the future of digital transactions, and the upcoming years will mark dynamic development for the industry. Ensuring the stability and security of transactions becomes digital world top priority. The biggest cryptocurrency exchange in CEE BitBay saw the opportunity and acquired participation certificates of the Swiss smart-banking leader SEBA Bank which offers a flexible, secure and easy technological bridge between the traditional and digital worlds. SEBA announced tokenisation of the Series B equity to its participation certificate holders on the Blockchain, the first bank to tokenise such equity participations.

Due to the new DLT law provision, there is now legal certainty regarding the issuance of equity instruments as register securities (token), such as the SEBA Bank Equity token, which shall be issued and held within its banking-grade digital custody in a FINMA regulated environment. Therefore 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.

BitBay is the biggest cryptocurrency exchange in Central and Easter Europe and third largest in Europe. The exchange debuted in 2014 and has grown to almost 1M active users and processes 125 transactions per minute.

Advanced development in law and regulation regarding cryptocurrencies makes Switzerland one of the friendliest countries for digital currencies. The enactment of the so called “Blockchain Act” is intended to position Switzerland as a leader in the emerging digital economy through selective adaptation of existing laws and regulations to promote digital innovation. All provisions of the Blockchain Act are anticipated to enter into force by the end of the summer of 2021.

About SEBA Bank - The Future of Digital Banking, Investing & Financing

Founded in April 2018 and headquartered in Zug, SEBA Bank is a pioneer in the financial industry and is the only global smart bank providing a fully universal suite of regulated banking services in the emerging digital economy. In August 2019, SEBA Bank received a Swiss banking and securities dealer licence – the first time a reputed, regulatory authority such as FINMA has granted a licence to a financial services provider with a core capability in digital assets. The broad, vertically integrated spectrum of services combined with the highest security standards, make SEBA Bank’s value proposition unique - this is why Banque de France selected SEBA Bank to test the integration of Central Bank Digital Currency (CBDC). CVVC Global Report and CB Insights names SEBA Bank as Top 50 Companies within the blockchain ecosystem.

For more information about SEBA Bank, please visit seba.swiss.