SEBA Swiss bank has been issued a license for operating in the UAE market. Once the license was received, the crypto bank would get the right to advise clients on ivestments, loans and transactions with cryptocurrencies.
Representatives of the bank believe that the UAE market can help it increase the number of costumers. Besides, additional staff would be hired for working in UAE. A few weeks ago the bank conducted another round of financing amounting to twenty billion dollars. This has made it possible for the bank to put money into the new technologies.
As is stated by the bank, UAE has long been known as the world leader in crypto and blockchain. Obtaining the license in UAE is a part of the bank strategy. Last year it also got the FINMA license that allowed the bank to operate with investment funds. Competition in the global crypto market is growing, and each company is trying to conclude as many agreements in this field as possible. The same policy has been chosen by SEBA bank, in order to increase its customer base and capitalization. And UAE is now the most suitable market in this regard, as it does not introduce any bans on working with crypto.
