SEBA (Hong Kong) Limited (SEBA Hong Kong) is set to become the first licensed corporation in Hong Kong with crypto capabilities backed by a Swiss crypto bank, SEBA Bank AG (SEBA Bank), providing it with the platform to operate regulated activities in virtual assets.
Hong Kong – 30 August 2023 – SEBA Bank, a full-service, global crypto bank providing financial solutions for the digital age in wealth management, investment, trading, and advisory services, has today announced that an approval-in-principle (AIP) from the Securities and Futures Commission (SFC) in Hong Kong has been issued to its regional subsidiary, SEBA Hong Kong.
SEBA Hong Kong has received the AIP for its licence application to operate regulated activities in Hong Kong to deal in securities, including virtual assets-related products, such as OTC derivatives and structured products; advise on securities and virtual assets; and conduct asset management for discretionary accounts in both traditional securities and virtual assets.
This licence, when issued, will pave the way for SEBA Hong Kong to be part of the first group of licensed corporations in Hong Kong to conduct investment services with crypto capabilities in the market, making the Switzerland-headquartered bank a significant frontrunner in Hong Kong’s burgeoning crypto economy.
Amy Yu, CEO APAC, SEBA Hong Kong, commented: “It is exciting to be at the forefront of innovation in one of the world’s leading financial and technological centres, Hong Kong. This AIP signifies that all our efforts are heading in the right direction – SEBA group wants to service crypto investors in jurisdictions that recognise the value of digital assets. We see enormous potential in Hong Kong’s journey to becoming a global crypto market leader and look forward to contributing to that trajectory. SEBA Hong Kong commends the example Hong Kong sets for regulatory standards worldwide, and values the role of this licence in expanding our regulated footprint across Asia Pacific”.
Obtaining an AIP is the first step in SEBA Hong Kong’s path to acquiring an official licence that will allow it to operate as a licensed entity once all the SFC conditions have been met. The AIP marks a significant leap forward in SEBA group’s mission to secure the future of the global crypto economy and, in turn, validates SEBA Hong Kong’s position in the market as a trusted and regulated partner.
Franz Bergmueller, Group CEO, SEBA Bank, commented: “SEBA Hong Kong’s AIP is a reflection of our team’s commitment towards compliance and due diligence — essential pillars of tomorrow’s digital economy. Complementing SEBA group’s established licences in Switzerland (FINMA) and Abu Dhabi (FSRA), the Hong Kong AIP significantly extends our global regulatory footprint. SEBA group aligns itself with the Hong Kong government and its financial regulators in facilitating an environment that supports the responsible growth of the digital assets industry.”
SEBA Hong Kong’s licence will be an important milestone in its Asia Pacific strategy — to be on the ground providing wealth management, investment, and advisory services for investors with the security and customer experience that accompanies a regulated institution.
This document is for information only and is not intended as an offer, or a solicitation of an offer, to buy or sell any investment or other specific product/service. SEBA Bank is not licensed to conduct banking and financial activities in Hong Kong nor is SEBA Bank supervised by banking and financial authorities in Hong Kong.