ZURICH, Switzerland, November 14, 2023 – SEBA Bank, a Swiss-based crypto bank has received regulatory approval from the Securities and Futures Commission (SFC) of Hong Kong to operate in the region, expanding its reach into the Asian financial hub.1
The license will enable SEBA Bank to offer a comprehensive suite of crypto-related services to institutional and professional investors in Hong Kong, including trading and brokerage services for virtual assets, custody of digital assets, and investment advice tailored to crypto-based products.
“Institutional and professional investors, including corporate treasuries, funds, family offices and high-net-worth individuals, can begin availing of SEBA Hong Kong’s licensed services from today,” SEBA said.2
This marks a significant milestone for SEBA Bank, consolidating its position as a leading provider of institutional-grade crypto-financial services.
The SFC’s approval underscores the growing recognition and acceptance of cryptocurrencies globally.
Hong Kong has emerged as a global center for crypto-asset trading and financial innovation, attracting a growing number of crypto-focused businesses and investors. The SFC’s regulatory approach aims to foster responsible development of the crypto sector while safeguarding investor interests.
Franz Bergmueller, Group CEO, SEBA Bank, added: “Hong Kong has been at the centre of the crypto economy since Bitcoin’s inception, and we are very pleased to have added this Hong Kong licence with the full approval from the SFC to our existing licences in Switzerland (FINMA) and Abu Dhabi (FSRA). This regulatory clarity not only benefits our business but also supplements Hong Kong’s status as a global financial services hub, home to a multitude of market leaders in banking, asset management, and capital markets. The region’s robust legal system provides a solid foundation to conduct crypto-related services, and we look forward to beginning that from today.” 3
- Swiss Crypto Bank: https://www.seba.swiss/media-and-investors/seba-hong-kong-opens-hong-kong-office-to-establish-apac-presence/[↩]
- Coin Desk: https://www.coindesk.com/policy/2023/11/08/swiss-crypto-bank-seba-wins-hong-kong-license/[↩]
- Yahoo Finance: https://finance.yahoo.com/news/seba-hong-kong-awarded-licence-095900759.html?fr=sycsrp_catchall/[↩]
