Swiss digital asset bank Seba is ready to give its Series B equity to shareholders as security tokens on a blockchain.
The move comes after Switzerland adopted a new distributed wholesale technology law that recognizes tokenised securities as an asset class that could transfer their legal property rights through a blockchain.
Seba Bank with the permission of Finma had already announced that it would mark its shares of Series B fundraising when the law came into force. The identity tokens are fully protected by DLT Law, and are issued and held within the digital hold of Seba banking level in an environment controlled by Finma.
The tokens are based on Ethereum’s ERC20 protocol and are “designed to allow sewing connection for trading and liquidity on internationally recognized digital liquidity centers,” the bank said.
Seba board member Hans Kuhn said: “With DLT law coming into force today, Switzerland is reaffirming one of the most progressive and innovative legal and regulatory jurisdictions in all of Wales. the world that now fully supports the rollout of indigenous digital securities. blockchain foundation. ”