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Fintech Lightnet teams up with Swiss crypto bank SEBA



Bangkok-based Lightnet announced its partnership with SEBA. The fintech will serve retail as well as institutional investors globally with more transparent and secure settlement solution.

Through the new collaboration, the company will strengthen its remittance settlement capabilities and bridge the gap between digital and traditional assets.

The Zug-based crypto bank will serve as banking counterparty for the Lightnet Group. The partnership will enable settlements, correspondences and remittances in both fiat and digital currencies. SEBA will also act as an alternative settlement banking network, account, custodian and settlement bank for money transfer operators (MTOs) in digital currencies.

collaboration

Matthew Alexander, head of asset tokenization of Seba Bank commented:

Matthew Alexander, SEBA Bank
Matthew Alexander
Source: LinkedIn

Asia is a promising market not only because of its size but especially because of the affinity of the people towards digital services and digital assets.

Lightnet will leverage a blockchain financial protocol developed by decentralized credit and settlement network in Asia, Velo Labs. The fintech founded in 2018 aims to transform remittance services for the millions of unbanked migrant workers across Southeast Asia.

The company also plans to address the inefficiencies of global trade finance and introduce multi-currency virtual accounts.

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Fintech Lightnet teams up with Swiss crypto bank SEBA

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