SEBA Bank Receives Regulatory License for Crypto Services in Hong Kong

SEBA Bank Receives Regulatory License for Crypto Services in Hong Kong

Switzerland-based SEBA Bank has achieved another milestone in its global expansion plans by securing a regulatory license from Hong Kong regulators for its wholly-owned subsidiary, SEBA Hong Kong. The license allows SEBA Hong Kong to offer regulated cryptocurrency services to institutional investors in the city-state. This significant development comes after three months of receiving in-principle approval and nearly a year since SEBA Bank established its office in Hong Kong.

Expansion Plans Materialize

SEBA Bank’s subsidiary, SEBA Hong Kong, has successfully obtained a license from the Hong Kong Securities and Futures Commission (SFC). This license signifies the bank’s commitment to its global expansion plans and its objective to cater to institutional and professional investors in Hong Kong. The license enables SEBA Hong Kong to deal with and distribute a wide range of securities, including digital asset products such as over-the-counter derivatives. Additionally, SEBA Hong Kong can provide advisory services on digital assets and securities while conducting asset management for discretionary accounts in both traditional securities and virtual assets.

The regulatory license from the SFC allows SEBA Hong Kong to tap into the institutional market in Hong Kong. The bank is now well-positioned to cater to institutional investors such as funds, high-net-worth individuals, and corporate treasuries. This move will greatly enhance the bank’s ability to serve the specific needs of these entities within the city-state. With robust regulatory frameworks in place, Hong Kong provides a favorable environment for SEBA Bank to provide seamless and secure cryptocurrency services.

Franz Bergmueller, the Group CEO of SEBA Bank, expressed his optimism about the regulatory license and the opportunities it brings. According to Bergmueller, Hong Kong’s well-established legal system serves as a solid foundation for conducting crypto-related services. He emphasizes that SEBA Bank is keen to commence its cryptocurrency services in Hong Kong and leverage the advantages of the region’s clear regulatory framework.

Expanding Footprint in Asia-Pacific

SEBA Bank’s entry into the Asia-Pacific (APAC) region began in November 2022 with the establishment of its Hong Kong office. This move marked a significant milestone for the bank’s expansion plans. The in-principle approval received from the SFC in August 2023 further paved the way for SEBA Bank to solidify its presence in Hong Kong. The regulatory license obtained by SEBA Hong Kong serves as another feather in the bank’s cap, adding to its existing licenses from regulators in Switzerland and Abu Dhabi.

The regulatory license granted to SEBA Bank’s subsidiary, SEBA Hong Kong, by the Hong Kong Securities and Futures Commission is a substantial achievement for the bank. This license enables the bank to offer regulated cryptocurrency services to institutional investors in Hong Kong, including advisory services, asset management, and a wide range of securities dealing. SEBA Bank’s expansion into the Asia-Pacific region has been strategically planned and executed, and this regulatory license serves as a testament to the bank’s dedication to providing cutting-edge cryptocurrency services in a robust regulatory environment. The future looks promising for SEBA Bank as it continues to strengthen its position in the global digital asset space.


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