Swiss Crypto Bank SEBA Receives Hong Kong SFC License

9/11/2023

SEBA Bank, based in Switzerland, has successfully obtained a license from the Hong Kong Securities and Futures Commission (SFC) for its subsidiary, SEBA Hong Kong. This license enables SEBA to provide a wide range of cryptocurrency-related services in the Asia Pacific region, marking its entry into this burgeoning market. SEBA can now deal and distribute securities, including digital asset-related products such as OTC derivatives, offer advisory services on securities and digital assets, and conduct asset management for discretionary accounts involving traditional and digital assets. This regulatory approval underlines Hong Kong's significance in the crypto economy and its commitment to fostering a robust digital asset ecosystem.

The CEO of SEBA, Franz Bergmueller, highlighted Hong Kong's central role in the crypto economy and expressed the bank's eagerness to contribute to the local digital asset ecosystem. He praised the region's strong legal framework, emphasizing how it not only benefits SEBA's operations but also enhances Hong Kong's status as a global financial services hub. This development aligns with Hong Kong's efforts to establish favorable regulations for the crypto industry, positioning itself as a hub for innovative financial services and digital assets.

Resource: https://cointelegraph.com/news/swiss-crypto-bank-seba-hong-kong-sfc-license