Switzerland-based crypto bank SEBA Bank has expanded its reach into the Asia Pacific region by obtaining a license from the Hong Kong Securities and Futures Commission (SFC).
SEBA’s Hong Kong subsidiary, SEBA Hong Kong, received regulatory approval to offer various crypto-related services, marking its entry into the dynamic Asian market. This development follows SEBA Bank’s strategic expansion plan, which began in late 2022 when it established an office in Hong Kong.
The license granted to SEBA by the SFC allows the bank to engage in the dealing and distribution of all securities, including digital asset-related products like over-the-counter (OTC) derivatives. Moreover, SEBA will have the authority to provide advisory services on securities and digital assets and manage assets for discretionary accounts, encompassing both traditional and digital assets. This regulatory green light opens the door for SEBA to cater to institutional and professional investors, including corporate treasuries, funds, family offices, and high-net-worth individuals in the region.
Hong Kong, being a pivotal hub in the world of cryptocurrencies since the inception of Bitcoin, offers a robust legal framework that fosters trust and confidence in the crypto sector. SEBA’s CEO, Franz Bergmueller, highlighted the importance of the region, stating that Hong Kong’s crypto economy has been central to the industry’s growth. He emphasized that the region’s well-established legal system serves as a solid foundation for conducting crypto-related services, providing regulatory clarity that benefits not only SEBA’s business but also strengthens Hong Kong’s position as a global financial services hub.
Hong Kong has attracted a selective group of crypto companies, with its rigorous licensing regime ensuring that only a handful of platforms secure approval, demonstrating the region’s commitment to facilitating responsible and compliant crypto operations.
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