Switzerland’s SEBA Bank Gets Approval to Operate Crypto Services in Abu Dhabi Global Market

A new office has already been set up for SEBA Bank in the Abu Dhabi Global Market (ADGM).

Advertisement
By Radhika Parashar | Updated: 25 February 2022 18:54 IST
Highlights
  • SEBA Bank got its operational licence for UAE this month
  • SEBA Bank will assist crypto investors with advisory in UAE
  • SEBA Bank is headquartered in Switzerland’s Zug city

SEBA Bank has already set an office in the ADGM region

Photo Credit: Twitter/ @WeAreSEBA

SEBA Bank, a registered digital assets bank from Switzerland, has taken its crypto services to the UAE. SEBA bank has bagged the permission to operate in Abu Dhabi Global Market (ADGM), which is also known the financial centre of the United Arab Emirates (UAE). A new office has been set up for SEBA Bank in the ADGM from where it will conduct regulated advising and investment processes for crypto investors seeking guidance. Founded in 2018, the Zug-headquartered financial services provider received its operational licence for Abu Dhabi earlier this month.

The Financial Services Regulatory Authority (FSRA) of ADGM granted SEBA Bank the final permission along with its Financial Service Permission (FSP) license.

Advertisement

In 2019, SEBA Bank became the first crypto-focussed company to have secured a licence from the Swiss Financial Market Supervisory Authority (FINMA).

Later in January 2022, SEBA Bank raised nearly $120 million (roughly Rs. 900 crore) in a Series C funding round according to CoinDesk. The company offers crypto banking, trading and custodial services.

Advertisement

“We welcome SEBA Bank to ADGM's expanding family of financial institutions at an incredibly exciting juncture for the thriving digital asset landscape,” Dhaher Bin Dhaher Al Muhairi, CEO of ADGM's Registration Authority said in a statement.

ADGM was established as a business hub on Al Maryah Island in the capital of the UAE in 2013.

Advertisement

UAE is embracing the crypto culture despite several other nations worrying about its legitimacy.

In December last year, the Dubai Media Office revealed that the Dubai World Trade Centre (DWTC) will become a crypto zone and a regulator for cryptocurrencies in the coming days.

Advertisement

Given the intrigue around the crypto sector in the UAE, SEBA Bank intends to help investors take aware decisions.

“The UAE is a global leader in digital assets and blockchain, with the Emirates Blockchain Strategy 2022 providing a clear plan for cementing its place as a global hub for blockchain innovation,” said, Christian Borel, Branch Manager at SEBA Bank AG, ADGM.

The UAE has laid out strict rules around the crypto sector that is expanding among its citizens.

Strict punishments for crypto scammers targeting investors in the country have also been announced by the authorities there. Violators will be liable to pay a penalty of up to AED 1 million (roughly Rs. 2 crore) along with spending some jail.


Gaana CEO and Spotify's India chief join us on Orbital, the Gadgets 360 podcast, to discuss India's unique music streaming landscape. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article. 

Affiliate links may be automatically generated - see our ethics statement for details.
 

Get your daily dose of tech news, reviews, and insights, in under 80 characters on Gadgets 360 Turbo. Connect with fellow tech lovers on our Forum. Follow us on X, Facebook, WhatsApp, Threads and Google News for instant updates. Catch all the action on our YouTube channel.

Advertisement

Related Stories

Popular Mobile Brands
  1. OnePlus Nord 6 India Launch Today: What We Know So Far
  2. Casio AE-1600HX Series Launched With Up to 10 Years of Battery Life
  3. WhatsApp Noise Cancellation Feature Reportedly Expands to Android Beta Testers
  4. Realme 16 5G With 7,000mAh Battery Goes on Sale in India: See Offers
  5. No More Black? iPhone 18 Pro New Leak Reveals Bold New Colour Options
  6. Valathu Vashathe Kallan Is Now Streaming: Know All About the Crime Thriller
  7. Euphoria Is Streaming Online: Know Where to Watch Sara Arjun's Social Thriller
  8. Redmi A7 Pro 5G Will Launch in India on This Date
  9. Infinix Note 60 Pro Design, Colourways Revealed as India Launch Nears
  10. How NASA Approved iPhone 17 Pro Max for Artemis 2 Mission
  1. Xiaomi Fan Festival 2026 Brings Offers on Flagship Phones, Tablets, Smart TVs, Including Xiaomi 17 Ultra
  2. OnePlus Nord 6 Launching Today: Know Price in India, Features, Specifications and More
  3. New Gravity Theory Challenges Big Bang Singularity Problem
  4. No More Black? iPhone 18 Pro New Leak Reveals Bold New Colour Options for 2026
  5. China Urges Banks to Use Blockchain for Lending, Tax Data Sharing
  6. Meta to Fire 200 Employees, Phase Out Middle Manager Titles Amid AI Push: Report
  7. Glory OTT Release Confirmed: Where to Watch Pulkit Samrat and Divyendu Sharma Starrer Online
  8. Oppo Find X9 Ultra to Feature 10x Optical Zoom and External Lens Kit
  9. China Removes Bitchat App From Apple Store Over Regulatory Concerns
  10. WhatsApp Reportedly Rolls Out Noise Cancellation for Voice and Video Calls to Android Beta Users
Download Our Apps
Available in Hindi
© Copyright Red Pixels Ventures Limited 2026. All rights reserved.