SEBA Bank AG, a Swiss crypto bank, announced Wednesday that its subsidiary, SEBA Hong Kong, has received a license for crypto-related services from the Securities and Futures Commission (SFC).
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Fast Facts
- The license allows SEBA to conduct regulated activities in Hong Kong including the dealing and distribution of all securities, including virtual assets-related products such as over-the-counter (OTC) derivatives.
- SEBA Hong Kong’s licensed services are now available for institutional and professional investors, corporate treasuries, funds, family offices, and high-net-worth individuals, SEBA said.
- “This regulatory clarity not only benefits our business but also supplements Hong Kong’s status as a global financial services hub,” said Franz Bergmueller, chief executive officer of SEBA Bank. “The region’s robust legal system provides a solid foundation to conduct crypto-related services and we look forward to beginning that from today.”
- SEBA Group said this marks its first regulated footprint in the Asia-Pacific. The bank also operated regulated subsidiaries in Switzerland and Abu Dhabi.
- SEBA Bank received in-principle approval from the SFC for virtual asset trading services in late August. The bank established its Hong Kong office in November 2022 as part of its APAC expansion.
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