The SFC license will also allow SEBA to offer advice on securities and virtual assets and conduct asset management for discretionary accounts in traditional and virtual assets.
SEBA began its quest for Hong Kong expansion late last year, setting up an office in November 2022 and by August 2023, the firm obtained an in-principle approval to offer virtual asset trading services.Switzerland-based crypto bank SEBA AG has become the latest crypto-centered firm to obtain a license from the Hong Kong Securities and Futures Commission .
SEBA’s Hong Kong subsidiary, SEBA Hong Kong, received the regulatory nod to offer a range of crypto-related services in the region. According to theThe license makes way for SEBA in dealing and distribution of all securities, including virtual assets-related products such as over-the-counter derivatives. The license marks SEBA’s first footprint in the Asia Pacific region.
SEBA first launched an office in Hong Kong in November 2022 with a focus on expanding its services in the region andfrom SFC to offer virtual asset trading services in August earlier this year. Apart from Switzerland, SEBA is also active in Abu Dhabi and now Hong Kong. The license will also allow the Swiss firm to offer its services to Institutional and professional investors, including corporate treasuries, funds, family offices and high-net-worth individuals., said that Hong Kong has been at the centre of the crypto economy since Bitcoin’s inception, and they are happy to become a part of the Hong Kong virtual asset economy while adding:
“The region’s robust legal system provides a solid foundation to conduct crypto-related service. 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. “by setting up favorable regulations for crypto companies to flourish.
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