Key Takeaways
- License allows SEBA to conduct regulated activities in Hong Kong, encompassing the dealing and distribution of all securities, including virtual assets-related products.
- Development marks SEBA Group’s inaugural regulated presence in the Asia-Pacific region.
Swiss crypto bank SEBA Bank AG’s subsidiary, SEBA Hong Kong, has announced the acquisition of a license for crypto-related services from the Securities and Futures Commission (SFC).
This license empowers SEBA to conduct regulated activities in Hong Kong, encompassing the dealing and distribution of all securities, including virtual assets-related products like over-the-counter (OTC) derivatives.
SEBA’s licensed services are now available for institutional and professional investors, corporate treasuries, funds, family offices, and high-net-worth individuals.
This development marks SEBA Group’s inaugural regulated presence in the Asia-Pacific region, adding to its existing regulated subsidiaries in Switzerland and Abu Dhabi.
SEBA Bank received in-principle approval from the SFC for virtual asset trading services in late August. Subsequently, the bank established its Hong Kong office in November 2022 as part of its strategic expansion in the APAC region.
SEBA’s foray into the Asia-Pacific crypto market represents another milestone for the institution, with its Hong Kong subsidiary gaining approval for a broad spectrum of crypto-related services, effectively enhancing the bank’s offerings in the region. SEBA’s commitment to the crypto sector reflects the growing importance of the industry within the global financial landscape.
Franz Bergmueller, CEO of SEBA Group, expressed his enthusiasm regarding this development, highlighting Hong Kong’s historical significance in the crypto economy. He emphasized that SEBA is pleased to contribute to the city’s virtual asset economy and highlighted the strength of the region’s legal system as a foundation for crypto-related services.
Bergmueller noted that this regulatory clarity benefits not only SEBA’s business but also reinforces Hong Kong’s position as a global financial hub, housing leaders in banking, asset management, and capital markets.
SEBA’s expansion into Hong Kong aligns with the city’s growing acceptance of license applications from crypto-related companies. SEBA joins a wave of firms recognizing the potential in Hong Kong’s financial landscape and regulatory environment.
Standard Chartered-backed Zodia Custody has also revealed plans to launch its services in Hong Kong, further underscoring the city’s attractiveness as a destination for crypto firms seeking to establish a regulated presence in the Asia-Pacific region.
