SEBA Taps Tokensoft for Asset Tokenization

SEBA Crypto AG, a Swiss crypto-focused bank, announced its strategic partnership with Tokensoft International on Monday to offer asset Tokenization Tokenization Tokenization represents the process of substituting a sensitive data element with a non-sensitive equivalent, i.e. token, which bears no extrinsic or exploitable meaning or value. In essence, the rights to the ownership of an asset are converted into a digital token. Tokenization can be used to own an entire unit of an asset. For example, one token that represents the ownership of a piece of real estate or to split ownership of a single unity of an asset such as 200,000 tokens, each one represen Tokenization represents the process of substituting a sensitive data element with a non-sensitive equivalent, i.e. token, which bears no extrinsic or exploitable meaning or value. In essence, the rights to the ownership of an asset are converted into a digital token. Tokenization can be used to own an entire unit of an asset. For example, one token that represents the ownership of a piece of real estate or to split ownership of a single unity of an asset such as 200,000 tokens, each one represen Read this Term.

The regulated crypto bank is planning to integrate Tokensoft's tokenization platform to expand its digital services.

“We are convinced that this strategic partnership will enable us to provide our clients with enhanced tokenization technology and solutions to suit existing and emerging demands,” Matthew Alexander, head of asset tokenization at SEBA, said.

Based in the United States, Tokensoft provides tokenization solutions and Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term services in Europe.

SEBA will “design, structure, issue and manage” digital tokens it is eying to issue for its institutions and qualified private individual clients, alongside its advisory solutions.

Both companies will together promote tokenization standards to ensure interoperability between blockchain and traditional financial systems.

“As one of the leading security token issuance and asset servicing platforms, Tokensoft’s core competencies perfectly complement our existing asset tokenization capabilities. Our Asset Tokenization division offers enterprise grade solutions, with our Swiss banking license assuring the highest standards in security and stability,” Alexander added.

Bridging the gap between banking and crypto

Last year, SEBA, along with Sygnum, became the first crypto bank to receive a banking license from the Swiss financial regulator.

The bank is offering a number of crypto-specific services and also tied with Julius Baer, offering its clients crypto investment and custody services.

“Switzerland has been at the forefront of digital asset development – SEBA is globally one of the first banks with a focus on digital assets, which received a banking and securities dealer license from the Swiss Financial Market Supervisory Authority (FINMA). We believe that such partnerships are the kind of careful, detailed groundwork that will lay the foundations for a robust Digital Asset Economy in the years to come,” Mason Borda, CEO of Tokensoft, said.