Swiss bank SEBA has launched regulated custody services for Blue Chip NFTs

SEBA, a cryptocurrency-friendly bank in Zug, Switzerland, on Wednesday, Announce Launching an NFT custody solution that gives customers the ability to hold non-fungible tokens (NFTs) without having to manage private keys themselves.

The Swiss bank said the new service is set up to enable customers to store any Ethereum-based NFTs, especially premium NFTs – the most popular ones that have consistently maintained a high market value such as CryptoPunks, Bored Apes and Clone X.

SEBA Bank said the custody solution provides its customers with absolute confidence in the security of their NFTs, which are managed like any other digital asset.

Although the NFT market is still down from its peak in late 2021 and early this year, the assets are still attracting buyers.

Premium NFTs, often considered a good long-term investment, had their best performance in April while May and June were the worst performing periods in NFT history.

Sales of NFTs fell sharply in the third quarter, as cryptocurrency investors' purchasing actions slowed Crypto winter while Central bank rate The increases prompt investors to get rid of risky assets.

According to blockchain tracker DappRadar, in the third quarter of this year registered NFT sales reached $3.4 billion, down from $8.4 billion in the previous quarter and $12.5 billion at the market's peak in the first quarter of the year.

Although many NFT investors are currently taking losses on sales, the number of investors holding on to their NFT investments continues to rise. In June and July alone, nearly 500,000 users joined the growing group of NFT investors intending to hold onto them for the long term, bringing the number of holders to more than 3 million at the time.

SEBA's NFT custody service is a response to the increase in the number of institutional investors looking to invest in the NFT space. A SEBA Bank spokesperson also revealed that major market participants also need a regulated custodian to ensure the security and integrity of NFTs.

Initially, SEBA said its custody offering was open to existing and new clients who must be institutional or professional investors.

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