Switzerland's SEBA Bank Expands Crypto with Key Hong Kong Regulatory Approval
SEBA Bank and its Hong Kong subsidiary inches closer to regulated crypto services with SFC's AIP.
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The Securities and Futures Commission of Hong Kong has given an approval-in-principle (AIP) to SEBA Hong Kong, a direct subsidiary of the Switzerland-based SEBA Bank, according to the press release. This approval aims to allow the institution to conduct regulated operations in the territory, extending to securities, virtual asset advisories, and related services:
SEBA Bank, with its base in Switzerland, is known for its integrative approach to banking, blending traditional financial services with digital assets. Offering an array of services that cover wealth management, trading, and advisory capacities, the bank has made notable strides in the crypto banking landscape worldwide.
With the AIP in hand, SEBA Hong Kong is preparing to extend its offerings from conventional securities consultations to advising on virtual assets and handling assets for discretionary accounts. This development could potentially situate SEBA Hong Kong among the first licensed corporations in the city to render crypto-centric investment services:
“The AIP marks a significant leap forward in SEBA group’s mission to secure the future of the global crypto economy and, in turn, validates SEBA Hong Kong’s position in the market as a trusted and regulated partner.”
Amy Yu, APAC CEO for SEBA Hong Kong, highlighted the importance of this progression. “SEBA group wants to service crypto investors in jurisdictions that recognise the value of digital assets. We see enormous potential in Hong Kong’s journey to becoming a global crypto market leader and look forward to contributing to that trajectory,” she stated:
Reiterating the bank’s dedication to regulatory compliance, Franz Bergmueller, Group CEO of SEBA Bank, touched upon the institution’s regulatory achievements in both Switzerland and Abu Dhabi. “The Hong Kong AIP significantly extends our global regulatory footprint. SEBA group aligns itself with the Hong Kong government and its financial regulators in facilitating an environment that supports the responsible growth of the digital assets industry,” Bergmueller noted.