Digital asset escrow bypasses the use of private keys and goes beyond top collections.
Seba Bank’s Custody Service
Despite the downturn in the market for cryptocurrencies and NFTs, Seba Bank remains bullish on these digital assets for years to come. seba Bank has just launched a new custody platform that enables its customers to store tokens from a collection of ethereum-based non-fungible tokens (NFTs).
The financial institution is the first regulated bank to offer NFT escrow services. seba Bank aims to provide its customers with a secure service for storing Ethereum-based NFTs without having to manage their private keys themselves. Instead, the functionality is integrated into the customer’s bank account. This allows customers to include their NFTs in their total wealth map and manage it just like any other digital asset.
Token storage on the regulated escrow platform started on October 26. The service is not limited to blue-chip pools such as CryptoPunks and Bored Ape Yacht Club, but is available to all Ethereum-based NFTs. the company said.” There is currently no market integration with Seba Bank.” However, the company will conduct due diligence based on client requests and then decide whether to offer custody for a particular NFT.
About Seba Bank
Seba Bank is a major cryptocurrency-focused financial institution in Switzerland, known for its close cooperation with local regulators. The bank was founded in 2018 and began offering cryptocurrency banking services before expanding into cryptocurrency trading and custody for institutional investors.
In 2019, it became the first digital asset company to receive a banking and securities dealer license from the Swiss Financial Market Supervisory Authority (FINMA).In 2021, the regulator also granted Seba Bank a certified information systems auditor license. This allows the company to facilitate institutional-level custody services.
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