SEBA Bank Receives Full Regulatory License in Hong Kong
Switzerland-based SEBA Bank has obtained a regulatory license from Hong Kong regulators through its local subsidiary, allowing the institution to offer regulated cryptocurrency services to institutional investors in the city-state. This full license comes three months after SEBA’s in-principle approval and nearly a year after establishing an office in Hong Kong.
Details of SEBA’s Hong Kong License
SEBA Hong Kong, a subsidiary of SEBA Bank, has received a license from the Hong Kong Securities and Futures Commission (SFC). The license permits SEBA Hong Kong to deal with various securities, including digital assets, and offer advisory services and asset management for discretionary accounts in traditional securities and virtual assets, particularly targeting institutional and professional investors such as funds, high-net-worth individuals, and corporate treasuries in Hong Kong.
Franz Bergmueller, CEO of SEBA Bank, mentioned that the clear regulatory framework in Hong Kong supports the seamless use of cryptocurrency services.
Hong Kong’s Attractiveness to Crypto-Related Businesses
SEBA Bank expanded to Hong Kong in 2022 and obtained in-principle approval from the SFC in 2023. This latest license in Hong Kong adds to SEBA’s existing licenses in Switzerland and Abu Dhabi.
Amy Yu, APAC CEO at SEBA Hong Kong, expressed excitement about the potential for their business in Hong Kong’s well-established regulatory framework for investment and trading.
In addition to SEBA Bank, crypto custody firm Zodia Custody has also announced plans to serve institutional clients in Hong Kong due to increasing demand.
### News source: cryptopotato.com