Seba, a newly-regulated Swiss crypto bank, is partnering with a liquidity network for digital assets.
The Zug-based bank said in a statement on Wednesday its partnership with Digital Asset Shared Ledger. DASL provides the platform for crypto brokers and banks like Seba to use Corda, a network built by a consortium of investment banks, R3, including UBS and Credit Suisse.
Specifically, Seba said it will offer primary asset tokenization and distribution using DASL, in complement to its own custody, asset management, and trading product. The bank will issue digital securities and distribute them to wealth management and other investor networks via wallets for custody clients.
Tokenization Tie-Up
Seba said the partnership paves the way for DASL to support its strategy to partner with institutions. It has drawn core banking system Finstar from Swiss regional lender Hypothekarbank Lenzburg, and in May disclosed a tokenization tie-up with U.S.-based Tokensoft.
«DASL provides Seba with an immediate and secure platform for our digital securities product range,» the bank's head of tokenization, Matthew Alexander, said. Seba poached Alexander from Julius Baer – which is both a Seba client and backer – earlier this year.
