SEBA Bank Offers NFT Custody amid Market Uncertainty

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SEBA Bank, a Zug-headquartered digital asset banking platform, launched a non-fungible tokens (NFTs) custody solution on Wednesday to secure clients’ assets. The newly announced service includes every Ethereum-based NFT, including ‘blue chips’ like CryptoPunks and Bored Apes collections.


Take Advantage of the Biggest Financial Event in London. This year we have expanded to new verticals in Online Trading, Fintech, Digital Assets, Blockchain, and Payments.

Non-fungible tokens are
blockchain-based and represent digital value in the form of items, videos, images or
online games. NFTs became popular in 2021 among artists, gamers, athletes and investors, who are currently looking for professional management of their assets. SEBA Bank wants to provide them with suitable solutions, although the industry itself is feeling the cold breeze of the ‘cryptocurrency winter’.

“As a licensed and FINMA-regulated Swiss bank with core competence in cryptocurrencies
Cryptocurrencies

By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the networks which are used to authenticate blockchain technology. Cryptocurrencies can be thought of as systems that accept online payments which are denoted as “tokens.” Tokens are represented as internal ledger entries in blockchain technology while the term crypto is used to depict cryptographic methods and encryption algorithms such as public-private key pairs, various hashing functions, and an elliptical curve. Every cryptocurrency transaction that occurs is logged in a web-based ledger with blockchain technology.These then must be approved by a disparate network of individual nodes (computers that maintain a copy of the ledger). For every new block generated, the block must first be authenticated and confirmed ‘approved’ by each node, which makes forging the transactional history of cryptocurrencies nearly impossible. The World’s First CryptoBitcoin became the first blockchain-based cryptocurrency and to this day is still the most demanded cryptocurrency and the most valued. Bitcoin still contributes the majority of the overall cryptocurrency market volume, though several other cryptos have grown in popularity in recent years.Indeed, out of the wake of Bitcoin, iterations of Bitcoin became prevalent which resulted in a multitude of newly created or cloned cryptocurrencies. Contending cryptocurrencies that emerged after Bitcoin’s success is referred to as ‘altcoins’ and they refer to cryptocurrencies such as Bitcoin, Peercoin, Namecoin, Ethereum, Ripple, Stellar, and Dash. Cryptocurrencies promise a wide range of technological innovations that have yet to be structured into being. Simplified payments between two parties without the need for a middle man is one aspect while leveraging blockchain technology to minimize transaction and processing fees for banks is another. Of course, cryptocurrencies have their disadvantages too. This includes issues of tax evasion, money laundering, and other illicit online activities where anonymity is a dire ingredient in solicitous and fraudulent activities.

By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the networks which are used to authenticate blockchain technology. Cryptocurrencies can be thought of as systems that accept online payments which are denoted as “tokens.” Tokens are represented as internal ledger entries in blockchain technology while the term crypto is used to depict cryptographic methods and encryption algorithms such as public-private key pairs, various hashing functions, and an elliptical curve. Every cryptocurrency transaction that occurs is logged in a web-based ledger with blockchain technology.These then must be approved by a disparate network of individual nodes (computers that maintain a copy of the ledger). For every new block generated, the block must first be authenticated and confirmed ‘approved’ by each node, which makes forging the transactional history of cryptocurrencies nearly impossible. The World’s First CryptoBitcoin became the first blockchain-based cryptocurrency and to this day is still the most demanded cryptocurrency and the most valued. Bitcoin still contributes the majority of the overall cryptocurrency market volume, though several other cryptos have grown in popularity in recent years.Indeed, out of the wake of Bitcoin, iterations of Bitcoin became prevalent which resulted in a multitude of newly created or cloned cryptocurrencies. Contending cryptocurrencies that emerged after Bitcoin’s success is referred to as ‘altcoins’ and they refer to cryptocurrencies such as Bitcoin, Peercoin, Namecoin, Ethereum, Ripple, Stellar, and Dash. Cryptocurrencies promise a wide range of technological innovations that have yet to be structured into being. Simplified payments between two parties without the need for a middle man is one aspect while leveraging blockchain technology to minimize transaction and processing fees for banks is another. Of course, cryptocurrencies have their disadvantages too. This includes issues of tax evasion, money laundering, and other illicit online activities where anonymity is a dire ingredient in solicitous and fraudulent activities.
Read this Term
and digital assets, we enable all of our clients to handle traditional and digital assets securely. We have the knowledge, established processes, and above all, a custody solution that is ISAE 3402 certified and established by independent bodies,” Urs Bernegger, the Co-Head of Markets & Investment Solutions of SEBA Bank, said.

“The range of services combined with the highest security standards makes SEBA Bank’s service offering unique, and we are very pleased to be able to support our clients with our expertise in expanding our service by offering NFT custody.”

NFTs Are Not So Popular Anymore?

According to SEBA Bank, in Q3 2022 alone, the NFTs market gathered 2.2 million unique users, increasing by 36% when compared to the same period a year earlier. However, the volumes for 2022 alone show an evident market slump. In the third quarter, trading volume in the NFTs market fell by 60% compared to the previous one.

In the reported period, NFTs sales amounted to $3.4 billion, slipping significantly from the $8.4 billion level seen in the second quarter and from $12.5 billion in the first quarter, when the market achieved record sales. Another reason for the drop in value is that a sizable portion of NFTs are priced in cryptocurrencies. Meanwhile, Bitcoin has slipped 60% since the beginning of the year and now costs about $20,000, not $69,000, as recently as last October.

This September, the largest NFTs platform, OpenSea, reported its fifth consecutive month of declining sales. Analysts and investors say the ‘cryptocurrency winter’, an extended period of low prices and consolidation in the market for major digital assets, is to blame for the situation.

On the other hand, SEBA Bank itself is not worried about the ‘crypto winter’ and is consequently expanding its services. Over the past year, it has obtained a custodian license from Switzerland’s FINMA and then a license allowing it to operate in Abu Dhabi.

SEBA Bank, a Zug-headquartered digital asset banking platform, launched a non-fungible tokens (NFTs) custody solution on Wednesday to secure clients’ assets. The newly announced service includes every Ethereum-based NFT, including ‘blue chips’ like CryptoPunks and Bored Apes collections.

Non-fungible tokens are
blockchain-based and represent digital value in the form of items, videos, images or
online games. NFTs became popular in 2021 among artists, gamers, athletes and investors, who are currently looking for professional management of their assets. SEBA Bank wants to provide them with suitable solutions, although the industry itself is feeling the cold breeze of the ‘cryptocurrency winter’.


Take Advantage of the Biggest Financial Event in London. This year we have expanded to new verticals in Online Trading, Fintech, Digital Assets, Blockchain, and Payments.

“As a licensed and FINMA-regulated Swiss bank with core competence in cryptocurrencies
Cryptocurrencies

By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the networks which are used to authenticate blockchain technology. Cryptocurrencies can be thought of as systems that accept online payments which are denoted as “tokens.” Tokens are represented as internal ledger entries in blockchain technology while the term crypto is used to depict cryptographic methods and encryption algorithms such as public-private key pairs, various hashing functions, and an elliptical curve. Every cryptocurrency transaction that occurs is logged in a web-based ledger with blockchain technology.These then must be approved by a disparate network of individual nodes (computers that maintain a copy of the ledger). For every new block generated, the block must first be authenticated and confirmed ‘approved’ by each node, which makes forging the transactional history of cryptocurrencies nearly impossible. The World’s First CryptoBitcoin became the first blockchain-based cryptocurrency and to this day is still the most demanded cryptocurrency and the most valued. Bitcoin still contributes the majority of the overall cryptocurrency market volume, though several other cryptos have grown in popularity in recent years.Indeed, out of the wake of Bitcoin, iterations of Bitcoin became prevalent which resulted in a multitude of newly created or cloned cryptocurrencies. Contending cryptocurrencies that emerged after Bitcoin’s success is referred to as ‘altcoins’ and they refer to cryptocurrencies such as Bitcoin, Peercoin, Namecoin, Ethereum, Ripple, Stellar, and Dash. Cryptocurrencies promise a wide range of technological innovations that have yet to be structured into being. Simplified payments between two parties without the need for a middle man is one aspect while leveraging blockchain technology to minimize transaction and processing fees for banks is another. Of course, cryptocurrencies have their disadvantages too. This includes issues of tax evasion, money laundering, and other illicit online activities where anonymity is a dire ingredient in solicitous and fraudulent activities.

By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the networks which are used to authenticate blockchain technology. Cryptocurrencies can be thought of as systems that accept online payments which are denoted as “tokens.” Tokens are represented as internal ledger entries in blockchain technology while the term crypto is used to depict cryptographic methods and encryption algorithms such as public-private key pairs, various hashing functions, and an elliptical curve. Every cryptocurrency transaction that occurs is logged in a web-based ledger with blockchain technology.These then must be approved by a disparate network of individual nodes (computers that maintain a copy of the ledger). For every new block generated, the block must first be authenticated and confirmed ‘approved’ by each node, which makes forging the transactional history of cryptocurrencies nearly impossible. The World’s First CryptoBitcoin became the first blockchain-based cryptocurrency and to this day is still the most demanded cryptocurrency and the most valued. Bitcoin still contributes the majority of the overall cryptocurrency market volume, though several other cryptos have grown in popularity in recent years.Indeed, out of the wake of Bitcoin, iterations of Bitcoin became prevalent which resulted in a multitude of newly created or cloned cryptocurrencies. Contending cryptocurrencies that emerged after Bitcoin’s success is referred to as ‘altcoins’ and they refer to cryptocurrencies such as Bitcoin, Peercoin, Namecoin, Ethereum, Ripple, Stellar, and Dash. Cryptocurrencies promise a wide range of technological innovations that have yet to be structured into being. Simplified payments between two parties without the need for a middle man is one aspect while leveraging blockchain technology to minimize transaction and processing fees for banks is another. Of course, cryptocurrencies have their disadvantages too. This includes issues of tax evasion, money laundering, and other illicit online activities where anonymity is a dire ingredient in solicitous and fraudulent activities.
Read this Term
and digital assets, we enable all of our clients to handle traditional and digital assets securely. We have the knowledge, established processes, and above all, a custody solution that is ISAE 3402 certified and established by independent bodies,” Urs Bernegger, the Co-Head of Markets & Investment Solutions of SEBA Bank, said.

“The range of services combined with the highest security standards makes SEBA Bank’s service offering unique, and we are very pleased to be able to support our clients with our expertise in expanding our service by offering NFT custody.”

NFTs Are Not So Popular Anymore?

According to SEBA Bank, in Q3 2022 alone, the NFTs market gathered 2.2 million unique users, increasing by 36% when compared to the same period a year earlier. However, the volumes for 2022 alone show an evident market slump. In the third quarter, trading volume in the NFTs market fell by 60% compared to the previous one.

In the reported period, NFTs sales amounted to $3.4 billion, slipping significantly from the $8.4 billion level seen in the second quarter and from $12.5 billion in the first quarter, when the market achieved record sales. Another reason for the drop in value is that a sizable portion of NFTs are priced in cryptocurrencies. Meanwhile, Bitcoin has slipped 60% since the beginning of the year and now costs about $20,000, not $69,000, as recently as last October.

This September, the largest NFTs platform, OpenSea, reported its fifth consecutive month of declining sales. Analysts and investors say the ‘cryptocurrency winter’, an extended period of low prices and consolidation in the market for major digital assets, is to blame for the situation.

On the other hand, SEBA Bank itself is not worried about the ‘crypto winter’ and is consequently expanding its services. Over the past year, it has obtained a custodian license from Switzerland’s FINMA and then a license allowing it to operate in Abu Dhabi.



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