The Swiss bank SEBA launches a crypto index while Bitcoin falls below $ 7.000

The Swiss cryptocurrency-focused bank has announced the launch of its investment solutions and a new index for cryptocurrencies. The company obtained a banking license from FINMA in August.

The Swiss-based SEBA on Wednesday announced the launch of an index for digital assets along with its investment solutions. The SEBA Crypto Asset Select (SEBAX) index is dynamic and risk-optimized with broad exposure in the crypto-investment market, according to the company. For the launch of the index, SEBA collaborated with the well-known director of the European index MV Index Solutions.

SEBA promises the best possible security for investors

Daniel Kuehne, head of Asset Management at SEBA AG, said that with their investment solutions they want to offer investors the greatest possible security and strengthen their confidence in the new and complex cryptocurrency market environment. He added that with their product and investment expertise, they enable customers to tap into the unique potential of simple digital asset classes from the existing financial world.

SEBA obtained the banking license in August

SEBA received the banking license from the Federal Financial Market Supervisory Authority in late August and became operational on November 12th. SEBA and Sygnum are the only two banks that have obtained a banking license from the Swiss authorities. Currently, the bank supports five cryptocurrencies which include BTC, ETH, XLM, LTC, ETC. The cryptocurrency bank also offers its customers SEBAwallet services, e-banking and SEBA cards.

Bitcoin getting lower

Bitcoin (BTC) dipped below $ 7.000 again on November 27, as new selling pressure suddenly hit already fragile markets. Coin360 data showed that BTC / USD suddenly recovered in the $ 6.000 range on Wednesday, having previously held ground around $ 7.200. As of this writing, a low of $ 6.860 has seen a subsequent modest upside rebound, with Bitcoin remaining below the $ 7.000 barrier.

The performance coincided with emerging rumors of suspicious activity in the main South Korean cryptocurrency exchange Upbit. As reported by Cointelegraph, altcoin funds worth more than $ 50 million suddenly left the platform on Wednesday, raising concerns that a possible hack might have occurred.

Upbit has released a statement that appears to admit that the funds have been stolen, confirming that it closed deposits and withdrawals while investigating. Bitcoin markets have already traded precariously this week after similar negative sentiment from China has weighed heavily on traders.

As reported by Cointelegraph, analysts believe that the Beijing authorities' commitment to eliminate trade has caused a worldwide sell-off, with investors keen to abandon their positions in order to buy back at a lower price. Other factors also reportedly influenced this decline, such as fiscal moves and a shortage of liquidity.