Hardly anyone knows Celsion Finance yet. According to their website, which went live on Wednesday, the company plans to offer banking services focused on Decentralized Finance. However, it may be several months before these plans come to fruition—it will take time. Thomas Müller, who leads the startup as Chief Operating and Technology Officer, confirmed to finews.ch: «We have applied for a banking license with the Financial Markets Authority (FMA) in Liechtenstein and expect to begin operations under the name Celsion Bank next spring.»

Now in the Public Eye

The company is stepping into the public eye by initiating future business relationships. «Until now, digital assets have not been suitable for the broader financial sector,» Müller explains. For this to change, «trusted regulated institutions and standards» are needed. Celsion Finance aims to fill this gap with its planned bank. «The centrepiece of our offering is our self-developed Digital Asset Backbone.» The core banking system will be sourced from Finnova, which provides a recognized and proven interface to the traditional financial system.

Privacy on the Blockchain

«We provide a complete infrastructure with solutions for issuing, managing, and settling digital assets,» explains Müller. This is done by applying industry standards in terms of «Know your Customer» (KYC). «Regulatory compliance while maintaining privacy on the blockchain is a focus of our future offering.»

Thomas Müller and his team of nearly ten experienced specialists from the crypto and traditional finance worlds have developed the new product in stealth mode over the past two years. They were based in Fraumünsterstrasse under the name Crypto Helvetica.

The reason for applying for a banking license in Liechtenstein instead of Zurich is related to market access to the EU. «We want to scale internationally relatively quickly, and this is easier to achieve from Vaduz.»

Investor From the USA

Müller, a trained computer scientist with extensive experience in the crypto world, leads the management team of Celsion Finance. The team also includes former IHAG and SEBA Chief Legal & Compliance Officer Nina Gartmann, and Harald Siegel (formerly KPMG and ISP) as Chief Finance and Risk Officer.

American entrepreneur Jeffrey Berns is the investor behind Celsion Finance. Originally a litigation attorney on the consumer side, Berns founded the crypto company Blockchains.com and the digital asset-focused GenuBank in Nevada. The Swiss team and the American investor are «firmly convinced that blockchain technology and digital assets will shape the future and improve people’s lives and society as a whole,» says Thomas Müller.