Swiss-Based Crypto Bank SEBA Offers Custody for 'Blue Chip' NFTs

Crypto bank SEBA has extended its digital asset custody services to blue chip, or premium, non-fungible tokens (NFT) including Bored Apes and CryptoPunks.

The Zug, Switzerland-based bank is aiming to provide its customers with a secure service for storing any Ethereum-based NFTs without having to manage their private keys themselves.

Some of the most expensive NFTs, such as those in the CryptoPunk and Bored Ape collections, have often fetched seven-figure sums, with celebrities including Justin Bieber, Madonna and Eminem among the most noteworthy buyers.

While the market has naturally cooled of late, reflecting the conditions in the broader crypto market, NFTs can still command prices upwards of $100,000.

A custody service for institutional investors in the digital asset industry would be a natural move for a firm like SEBA Bank.

Founded in 2018, SEBA began life as a crypto banking service before expanding into offering crypto trading and custody for institutional investors. In 2019, it became the first digital asset company to receive a license from the Swiss Financial Market Supervisory Authority (FINMA) to offer banking and securities and services.

Read more: NFTs Can Be Considered Property, According to Singapore High Court Ruling