SEBA Bank is authorized to present crypto solutions in Hong Kong

The license issued by the SFC makes it possible for SEBA Hong Kong to present securities trading/advisory solutions, virtual asset associated goods, OTC derivatives and asset management referred to over.

SEBA Bank is authorized to present crypto solutions in Hong Kong

Cryptocurrency loan provider SEBA Bank’s Hong Kong branch has officially acquired a license from the Hong Kong Securities and Derivatives Commission (SFC) to present cryptocurrency-associated solutions in the city.

From eight November 2023, qualified investment companies, investment money, loved ones offices and people with large registered capital can start out applying SEBA-licensed solutions in Hong Kong.

We are extra than thrilled to announce that SEBA Hong Kong has acquired a license from the Securities and Futures Commission to perform regulated actions in regular securities and cryptocurrency-associated solutions.

The total press release is readily available at https://t.co/QYCAibg0nT pic.twitter.com/zPy07KfDQz

— SEBA Bank AG (@WeAreSEBA) November 8, 2023

According to the bank’s announcement, this license makes it possible for SEBA Hong Kong to trade, advise and distribute all securities and goods associated to virtual assets, this kind of as OTC derivatives and similarly structured goods. At the similar time, banking institutions can also deal with virtual assets and securities for arbitrary accounts.

Ms. Amy Yu, Managing Director of SEBA Hong Kong APAC Region, commented:

“Hong Kong’s pioneering regional advantage in finance, trade and innovation has long attracted us, as serving clients in APAC is an aspiration found in ‘every cell’. The team’s DNA… Obtaining a license from the SFC brings huge potential for our business, all thanks to the well-established and clearly defined regulatory framework here.”

Grampa Franz Bergmueller, CEO of the SEBA Group, explained:

“…The new SFC license will be added to the existing licenses in Switzerland (FINMA) and Abu Dhabi (FSRA). Not only that, it also marks a big step forward in the mission to secure the future.” cryptocurrency economic system, so confirming SEBA Hong Kong’s trusted place in offering investment, advisory and consumer protection solutions in the APAC area.”

As reported by CoinliveSEBA Bank is one particular of the initial monetary institutions to carry digital assets to Switzerlandright after acquiring the banking authorization from the Federal Financial Market Supervisory Authority (FINMA) in 2019.

As of now, they present digital asset custody and trading remedies (BCH, USDC, target the goods ADA, DOT, XTZ AND Gold Backed Token) is exclusively created for distinctive sorts of institutions in the two personal and retail banking this kind of as: LGT Bank Liechtenstein, Bank Julius Baer and extra a short while ago St.Galler Kantonalbank (SGKB).

Hong Kong is a nation with lots of optimistic moves in the discipline of digital assets. After two months from application “Open” politics with cryptocurrency There are previously two exchanges authorized to offer you cryptocurrency trading in Hong Kong for personal traders HashKeys and OSLs. Binance-owned rumor exchange HKVAEX is also in the procedure of applying for an working license.

Coinlive compiled

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