January 21, 2022 – Singapore, Singapore
Gate Ventures, the venture capital arm of global digital asset exchange Gate.io, has announced its participation in SEBA Bank’s $119 million Series C round as a consortium member with Altive. SEBA Bank founded in 2018 and headquartered in Zug, Switzerland is a FINMA-licensed bank that offers digital banking, trading and custodial services for institutional investors and high-net-worth individuals (HNWIs).
Currently, SEBA is supported in over 25 countries and regions globally with a yearly growth of over 1,400% in trading volume. Gate Ventures believes that SEBA is well positioned to capture the growing institutional adoption of digital assets, which will in turn reshape the overall cryptocurrency market. With the funds raised, SEBA will seek to obtain licenses in Abu Dhabi, Hong Kong and Singapore, expanding operations and increasing its presence in key areas.
Marie Tatibouet, chief marketing officer of Gate.io, said,
“Gate Ventures was founded with the aim of investing in exciting new companies in the crypto space. We believe that the cryptocurrency banking market is greatly underserved, leaving the market ripe for innovators to drive growth. With more participants joining the industry to better meet the growing need for institutional custody which lets investors safely hold and use crypto, we believe SEBA is in a unique position for growth.”
The cryptocurrency market just passed the first wave of institutional inflows, and Gate Ventures firmly believes that it is the right time to invest in digital banks like SEBA. By introducing more banking service providers to crypto, institutional adoption is expected to grow immensely over the years to come. By facilitating more bridges between TradFi and decentralized finance, mass adoption is expected to follow.
About Gate Ventures
Gate Ventures is a global venture capital operation focused on investing in decentralized infrastructure, ecosystems and applications that will reshape the world in the digital age. Endorsed by Gate.io‘s ecosystem, Gate Ventures offers financing, operational resources and expertise to the crypto community for next-gen innovations.
Diksha Sharma, head of PR and communication of Gate.io