The Swiss crypto bank SEBA has made an important announcement regarding its subsidiary, SEBA Hong Kong. The subsidiary has successfully obtained a full license from the Securities and Futures Commission (SFC) of Hong Kong. This regulatory approval opens up doors for SEBA Bank to engage in a wide range of financial activities, which includes the handling and advisory of both digital and traditional assets.
SEBA Bank aims to cater to various clients in its operations, ranging from institutional and professional investors, corporate treasuries, funds, to family offices and high-net-worth individuals.
Excitement Over the Regulatory Approval
Amy Yu, the CEO of SEBA Hong Kong, expressed her enthusiasm about receiving the final nod from the SFC. She highlighted the prominence of Hong Kong in finance and innovation, stating, “The region’s position at the forefront of finance, trading, and innovation has long been attractive to us, as servicing APAC clientele is an integral aspiration of the team’s DNA. We are tremendously excited by Hong Kong’s deep-rooted capital markets and appetite for investment and trading.”
SEBA Bank CEO, Franz Bergmueller, also echoed the sentiment, emphasizing the importance of the Hong Kong operation for the bank’s global scope. He acknowledged, “We are very pleased to have added this Hong Kong license with the full approval from the SFC to our existing licenses in Switzerland (FINMA) and Abu Dhabi (FSRA). 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 Bank’s Journey Towards Regulatory Approvals
This recent full license obtained by SEBA Hong Kong follows an earlier approval-in-principle (AIP) granted by the SFC. This progress brings SEBA Bank one step closer to achieving its ultimate goal of full licensure. Furthermore, the bank has been actively pursuing institutional custody of cryptocurrency and has formed a partnership with Swiss bank SGKB to provide bitcoin and ether custody and trading services.
Meanwhile, despite global scrutiny, Hong Kong continues to strive as an international crypto hub. The city’s financial regulators demonstrated persistence and confidence in supporting digital asset regulations and Web3 innovation during Hong Kong FinTech Week 2023. This commitment remains strong, regardless of recent crackdowns on crypto exchanges, such as JPEX.
