SEBA Bank awarded licence for Hong Kong
09 November 2023 14:51
SEBA Bank, a fully licenced Swiss crypto bank, has announced that its wholly owned subsidiary SEBA Hong Kong has received a licence from the local regulators. According to a statement, the SEBA Group has now established its first regulated presence in the Asia-Pacific (APAC) region, in addition to its existing licences for Switzerland and Abu Dhabi. Since 8 November, institutional and professional investors, including corporate treasuries, funds, family offices and high net worth individuals, have been able to take advantage of SEBA Hong Kong's licenced services.
The licence allows SEBA Hong Kong to engage in regulated activities in Hong Kong for the trading and distribution of all types of securities, including products linked to virtual assets such as OTC derivatives and structured products based on virtual assets. The licence also covers advice on securities and virtual assets as well as asset management for discretionary accounts for both traditional securities and virtual assets.
Amy Yu, CEO APAC at SEBA Hong Kong, explained in the statement that servicing APAC clientele is “an integral aspiration of the team’s DNA”. To have secured this licence “provides enormous potential for our business, owing to the well-established and defined regulatory framework that is present here,” she said. For Franz Bergmüller, Group CEO at SEBA Bank, the region’s “robust legal system” provides a “solid foundation to conduct crypto-related services and we look forward to beginning that from today.” ce/mm