DeFi Technologies Inc. Featured in Syndicated Broadcast Covering Investment into SEBA Bank, a Swiss Global Digital Assets Pioneer
DeFi Technologies (OTC: DEFTF) has announced its participation in a CHF110 million Series C funding round for SEBA Bank, investing CHF25 million. This round was co-led by DeFi Technologies and attracted significant interest, resulting in oversubscription. As part of the investment, DeFi Technologies gains a seat on SEBA Bank's Board of Directors, establishing a strategic partnership aimed at expanding institutional access to decentralized finance products.
- DeFi Technologies invested CHF25 million in SEBA Bank's CHF110 million Series C funding round.
- DeFi will secure a seat on SEBA Bank's Board of Directors, enhancing its strategic involvement.
- The funding round was oversubscribed, indicating strong investor demand.
- None.
LOS ANGELES, Jan. 21, 2022 (GLOBE NEWSWIRE) -- DeFi Technologies Inc. (NEO: DEFI) (GR: RMJ.F) (OTC: DEFTF), a technology company bridging the gap between traditional capital markets and decentralized finance, today announces that it has been featured in a broadcast via NetworkNewsAudio (“NNA”), a solution that delivers additional visibility, recognition and brand awareness in the investment community via distribution to thousands of syndication points. The audio press release covers the successful close of a CHF110 million Series C funding round into SEBA Bank, a fully integrated, FINMA-licensed digital assets banking platform. The round was co-led by DeFi Technologies, with the company making an investment of CHF25 million.
To hear the audio production, visit: https://www.nnw.fm/LLajC
To read the original press release, visit: https://nnw.fm/uJWdQ
As detailed in the news release, DeFi Technologies will receive a seat on SEBA Bank's Board of Directors as part of the investment. Other funding partners included Altive, Ordway Selections, and Summer Capital. Alameda Research, a leading quantitative trading firm and core partner of FTX, also participated in the round, which was significantly oversubscribed with demand far exceeding the initial funding target. Existing SEBA Bank investors, including Julius Baer, also increased their positions in the funding round.
“DeFi Technologies’ relationship with SEBA Bank is one of the first of its kind between a private crypto bank and a public technology company. Synergies exist in various areas which will benefit both parties, our respective shareholders, and serve to provide greater institutional access for custodial services and regulated investment opportunities in the growing decentralised finance and Web 3.0 space,” Russell Starr, CEO of DeFi Technologies, stated in the news release. “SEBA Bank has one of only two FINMA licenses and in working with DeFi Technologies, both parties will be able to create value for each other – whether it be new product launches in the ETP space, potential co-launching of ETFs, staking, custody, and other unrealized possibilities. We are absolutely thrilled to continue building institutional grade products across this vastly expanding landscape of DeFi, in partnership with SEBA Bank.”
This funding round solidifies SEBA Bank’s position as a best-in-class regulated digital asset banking services provider. By leveraging the strategic expertise of the specialist partners who participated in the round, SEBA Bank will maintain its commitment to innovation and excellence in its digital asset banking and investment services.
About DeFi Technologies Inc.
DeFi Technologies Inc. is a technology company bridging the gap between traditional capital markets and decentralised finance. Our mission is to expand investor access to industry-leading decentralised technologies which we believe lie at the heart of the future of finance. On behalf of our shareholders and investors, we identify opportunities and areas of innovation, and build and invest in new technologies and ventures in order to provide trusted, diversified exposure across the decentralized finance ecosystem. For more information or to subscribe to receive company updates and financial information, visit www.DeFi.tech
About SEBA Bank
Founded in April 2018 and headquartered in Zug, SEBA Bank is a pioneer in the financial industry and is the only global smart bank providing a fully universal suite of regulated banking services in the emerging digital economy. In August 2019, SEBA Bank received a Swiss banking and securities dealer’s license, and, in September 2021, the CISA license – the first time a reputed, regulatory authority such as FINMA has granted such licenses to a financial services provider with a core capability in digital assets. A broad, vertically integrated spectrum of services combined with the highest security standards make SEBA Bank’s value proposition unique; this is why Banque de France selected SEBA Bank to test the integration of Central Bank Digital Currency (CBDC). CVVC Global Report and CB Insights named SEBA Bank among the ‘Top 50 Companies’ within the blockchain ecosystem. Aite Group awarded SEBA Bank with its ‘2021 Digital Wealth Management Impact Innovation Award’ in the category of ‘Digital Startup of the Year’, and LinkedIn lists SEBA Bank as one of the ‘Top Startups 2021 in Switzerland’. For more information, visit the company’s website at www.Seba.swiss
About NetworkNewsAudio
NetworkNewsAudio (“NNA”), one of 50+ brands within IBN (InvestorBrandNetwork), allows you to sit back and listen to market updates, CEO interviews and AudioPressRelease (“APR”) productions. These audio clips provide snapshots of position, opportunity and momentum. NNA can assist by cutting through the overload of information in today's market, while bringing its clients unparalleled visibility, recognition and brand awareness. IBN is where news, content and information converge. IBN is a comprehensive provider of news aggregation and syndication, enhanced press release services and a full array of social communication solutions. As a multifaceted financial news and distribution company with an extensive team of journalists and writers, IBN has the unparalleled ability to reach a wide audience of investors, consumers, journalists and the general public with an ever-growing distribution network of 5,000+ key syndication outlets across the nation.
For more information, visit: www.NetworkNewsAudio.com
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Forward-Looking Statements
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the the closing of the Series C funding round and DeFi Technologies' participation; a seat on SEBA Bank's Board of Directors; potential synergies between DeFi Technologies and SEBA; the growth and adoption of decentralized finance; the pursuit by DeFi Technologies and its subsidiaries of business opportunities; and the merits or potential returns of any such opportunities. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Such risks, uncertainties and other factors include, but is not limited to rules and regulations in Switzerland with respect to financial institutions; investor demand for DeFi Technologies', its subsidiaries and SEBA Bank's products; the growth and development of DeFi and cryptocurrency sector; rules and regulations with respect to DeFi and cryptocurrency; general business, economic, competitive, political and social uncertainties. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
All information contained in this press release with respect to DeFi Technologies, SEBA Bank, Altive and Ordway Selections was supplied by the parties respectively for inclusion herein, and each party and its directors and officers have relied entirely on the other parties for any information concerning the other party. DeFi Technologies has not conducted due diligence on the information provided by SEBA Bank and does not assume any responsibility for the accuracy or completeness of such information.
THE NEO STOCK EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
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FAQ
What is the significance of DeFi Technologies' investment in SEBA Bank (DEFTF)?
How much funding did SEBA Bank raise in its Series C round?
What does DeFi Technologies gain from its investment in SEBA Bank?
What does the oversubscribed funding round indicate for SEBA Bank?
