SEBA Bank, a regulated and supervised Swiss bank, is expanding its services to include non-fungible tokens (NFTs).
In a recent press release, the world’s biggest crypto bank announced the launch of a custody service that would allow clients to protect their valuable NFTs without having to manage them through keys and other processes.
For the time being, the bank will only accept Ethereum-based NFTs from well-known, blue-chip collections such as Bored Apes, CryptoPunks, and Clone X.
This new offering made SEBA Bank the first regulated bank to provide NFT custody.
A section on SEBA Bank’s site reads, “We believe that the proliferation of Distributed Ledger Technology (DLT) is leading to new markets and innovative ways of creating value.” The bank, in fact, already offers a variety of regulated services, including trading over 16 cryptocurrencies, investing in digital assets, staking cryptos, and credit and lending solutions.
Adding new services will help SEBA Bank continue its aim of bridging the gap between the emerging digital economy and traditional banking.