Hong Kong Grants License to Crypto Bank SEBA for Operations

Sahana Kiran
Source – NFT Horizon

SEBA Bank, headquartered in Zug, Switzerland, has achieved a significant milestone in its global expansion strategy. It has secured approval from the Securities and Futures Commission of Hong Kong to engage in regulated activities related to crypto. This accomplishment underscores SEBA’s unwavering commitment to offering a comprehensive range of services within the digital asset sphere. It also extends its reach into a pivotal financial hub in the Asia-Pacific region.

The recently obtained license in Hong Kong grants SEBA the authority to participate in a range of activities linked to crypto. These activities encompass the trading and distribution of all forms of securities. This includes products related to virtual assets, such as over-the-counter (OTC) derivatives and structured instruments. However, virtual assets remain their underlying components. Moreover, SEBA will now be able to provide advisory services related to securities and digital assets. It is even authorized to conduct asset management for discretionary accounts, covering both traditional securities and digital assets.

Also Read: Hong Kong’s SEBA Bank Wins Approval To Offer Crypto Services

SEBA takes crypto across the globe

This regulatory endorsement marks a significant expansion of SEBA’s presence in the digital asset landscape. It further brings the total count of jurisdictions where the bank operates to three. SEBA Bank is already active in Switzerland and Abu Dhabi. The addition of Hong Kong further cements its standing as a prominent global participant in the digital asset sector.

Franz Bergmueller, the CEO of SEBA Group, expressed his enthusiasm for this development. He said,

“Hong Kong has been at the center of the crypto economy since Bitcoin’s inception, and we are very pleased to have added this Hong Kong license.”

SEBA Bank’s entry into the Hong Kong market last year was strategically timed. It aligns with the release of policy statements by Hong Kong authorities that indicated their willingness to engage with companies focused on crypto. SEBA Bank has effectively leveraged regulatory clarity to expand its services into the dynamic Hong Kong market.

SEBA Bank’s expansion aligns with Hong Kong’s aspiration to maintain its status as a global financial services hub. It boasts a diverse array of leaders in banking, asset management, and capital markets. By acquiring the license to operate in Hong Kong, SEBA not only strengthens its presence in Asia but also contributes to the growth and evolution of the region’s digital asset ecosystem.

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