Swiss bank, SEBA, has just announced the integration of service provider, Tokensoft. New to Europe, Tokensoft will see their capabilities leveraged by, what is considered, one of the more promising banks involved with blockchain.
With SEBA maintaining a presence in over 10 countries, this integration of services stands to have a widespread positive effect. Between their licensure, obtained through FINMA, a well-funded runway, tech integration, and a friendly government, SEBA seems well-poised to set themselves up as a leader in the digital securities sector.
That Didn’t Take Long
When we first addressed the expansion of Tokensoft in to Europe, we did not expect to be reporting on new partnerships less than one week later; yet here we are, and SEBA has announced the integration of Tokensoft services into their own offerings.
SEBA notes three main areas which they expect will benefit from this integration.
- Expansion of capabilities surrounding the creation of customized digital securities
- Mutual benefiting from financial market and technology expertise to broaden customer base
- Push the sector forward through ensuring interoperability with past and present FinTech
It’s All Part of the Plan
Much like Tokensoft, this move is all part of a plan by SEBA to develop, both, the digital securities sector and a foothold within it.
Something that will allow for SEBA to continue developing their services, and establishing partnerships such as the one discussed here today, is their past success during capital raises. In recent months, SEBA has indicated that they looked to build upon a, roughly, $100M Series A, with a $100M Series B.
Upon announcing this new alliance, representatives from each, SEBA and Tokensoft, took the time to comment.
Matthew Alexander, Head Asset Tokenization at SEBA, stated,
“We are convinced that this strategic partnership will enable us to provide our clients with enhanced tokenization technology and solutions to suit existing and emerging demands. As one of the leading security token issuance and asset servicing platforms, Tokensoft’s core competencies perfectly complement our existing asset tokenization capabilities. Our Asset Tokenization division offers enterprise grade solutions, with our Swiss banking license assuring the highest standards in security and stability.”
Mason Borda, CEO of Tokensoft, stated,
“Switzerland has been at the forefront of digital asset development – SEBA is globally one of the first banks with a focus on digital assets, which received a banking and securities dealer license from the Swiss Financial Market Supervisory Authority (FINMA). We believe that such partnerships are the kind of careful, detailed groundwork that will lay the foundations for a robust Digital Asset Economy in the years to come.”
Founded in 2018, SEBA maintains headquarters in Zug, Switzerland. Above all, SEBA has shown belief in a future built upon digital securities. In addition to working towards making this belief a reality, the bank continues to provide various traditional financial services to their customers.
CEO, Guido Buehler, currently oversees company operations.
Founded in 2018, Tokensoft maintains headquarters in San Francisco, United States. The team at Tokensoft has developed a variety of solutions built to facilitate growth in the digital securities sector.
CEO, Mason Borda, currently oversees company operations.