- SEBA Bank AG announced that its subsidiary, SEBA Hong Kong, has received a digital asset license from the Hong Kong Securities and Futures Commission (SFC).
- Institutional and professional investors can also benefit from SEBA Hong Kong’s crypto services. SEBA Group takes its first regulated step in the APAC region.
- SEBA had initially obtained in-principle approval (AIP) from the Hong Kong Securities and Futures Commission (SFC) in August of this year.
Swiss-based crypto bank SEBA Bank AG has announced that its subsidiary, SEBA Hong Kong, has obtained a digital asset license from the Hong Kong Securities and Futures Commission (SFC).
SEBA Launches Services in Hong Kong
Swiss-based crypto bank SEBA Bank AG revealed that its subsidiary, SEBA Hong Kong, has been granted a digital asset license by the Hong Kong Securities and Futures Commission (SFC). This license signifies SEBA Group’s first regulated step in the APAC region, in line with the strategic vision of the group.
This license permits SEBA Hong Kong to offer regulated activities, including products related to virtual assets, such as OTC derivatives and structured products of underlying digital assets. Additionally, it authorizes the firm to provide advisory services for securities and virtual assets, as well as asset management for discretionary accounts involving both traditional securities and virtual assets.
Institutional and professional investors can also benefit from SEBA Hong Kong’s crypto services. SEBA Group takes its first regulated step in the APAC region. Amy Yu, the CEO of SEBA Hong Kong, stated:
“We are excited about Hong Kong’s well-established capital markets and appetite for investment and trading; obtaining this license from the SFC provides significant potential for our business given the good regulatory framework in place.”
With this license, SEBA expands its number of regulated centers to three, including Switzerland and Abu Dhabi.
Hong Kong’s Growing Regulatory Environment
In August of this year, SEBA received initial approval (AIP) from the Hong Kong Securities and Futures Commission (SFC). The full approval by the SFC allows the crypto bank to expand its product and service offerings and embrace cryptocurrency in Hong Kong.
Zodia Custody, backed by Standard Chartered, announced plans to launch services in Hong Kong after the city’s regulators expressed willingness to approve retail participation in cryptocurrency ETFs. Hong Kong regulators are now willing to approve retail participation in crypto ETFs, COINOTAG reports.
