Swiss-based SEBA Bank has secured a Financial Services Permission (FSP) from Abu Dhabi Global Market's (ADGM) Financial Services Regulatory Authority (FSRA).
The FSP authorises SEBA Bank to conduct regulated activities in the ADGM, including advising on investments or credit, arranging credit and custody, and arranging deals in investments.
Following receipt of this FSP, SEBA Bank has opened an office in Abu Dhabi ADGM to strengthen support for its regional partners in the provision of regulated digital asset services.
With the dedicated office in Abu Dhabi, the bank aims to increase numbers of staff across operations, sales, and business development in the region.
Guido Buehler, CEO at SEBA Bank, says: “We are proud to receive a licence from the ADGM FSRA to provide our digital asset banking services in the ADGM. ADGM is a leading global hub for driving innovation in technology and business development and will offer valuable support in meeting our growth objectives for the region. Our new office in the thriving business and financial district on Al Maryah Island will serve as a strategic hub for SEBA Bank to cater effectively to the evolving needs of our customers in the UAE and across the region.”
Dhaher Bin Dhaher Al Muhairi, CEO of the registration authority at ADGM, comments: “We welcome SEBA Bank to ADGM’s expanding family of financial institutions at an incredibly exciting juncture for the thriving digital asset landscape. ADGM constantly seeks to advance its financial services offering to enhance the vibrant ecosystem and contribute to the growth and diversification of the Abu Dhabi economy. We look forward to supporting the SEBA Bank in its global growth strategy.”
