Swiss crypto bank SEBA gets Hong Kong SFC license
Switzerland-based crypto bank SEBA AG has become the latest crypto-centered firm to obtain a license from the Hong Kong Securities and Futures Commission (SFC).
SEBA’s Hong Kong subsidiary, SEBA Hong Kong, received the regulatory nod to offer a range of crypto-related services in the region. According to the data available on the SFC website, SEBA received the license on 3rd Nov.
The license makes way for SEBA in dealing and distribution of all securities, including virtual assets-related products such as over-the-counter (OTC) derivatives. The license marks SEBA’s first footprint in the Asia Pacific region.
SEBA first launched an office in Hong Kong in November 2022 with a focus on expanding its services in the region and received an in-principle approval from SFC to offer virtual asset trading services in August earlier this year. Apart from Switzerland, SEBA is also active in Abu Dhabi and now Hong Kong.
The SFC license will also allow SEBA to offer advice on securities and virtual assets and conduct asset management for discretionary accounts in traditional and virtual assets. The license will also allow the Swiss firm to offer its services to Institutional and professional investors, including corporate treasuries, funds, family offices and high-net-worth individuals.
Related: US ‘the only country’ crypto startups should avoid, says Ripple CEO
Franz Bergmueller, the CEO of SEBA Group, in an official statement, said that Hong Kong has been at the centre of the crypto economy since Bitcoin’s inception, and they are happy to become a part of the Hong Kong virtual asset economy while adding:
Hong Kong 2023 marked its presence in the global crypto economy by setting up favorable regulations for crypto companies to
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