Swiss Crypto Bank SEBA Receives License to Operate in UAE Financial Center

Swiss crypto bank SEBA Bank recently received a license to operate in the UAE’s financial hub, Abu Dhabi Global Market (ADGM). This license allows SEBA to conduct regulated services.

The Financial Services Permit (FSP) license, issued by the Financial Services Regulatory Authority (FSRA), will reportedly take effect on February 7, 2022. Following the issuance of the license, SEBA Bank subsequently opened an office in ADGM.

In a statement issued on February 22, SEBA Bank explained the importance of obtaining the FSP license, which authorizes the bank to "carry out regulated activities in ADGM, including advising on investments or credit, arranging credit and custody and arranging investment transactions.”