Swiss crypto bank SEBA gets Hong Kong SFC license

Switzerland-based crypto slope SEBA AG has go the latest crypto-centered steadfast to get a licence from the Hong Kong Securities and Futures Commission (SFC).

SEBA’s Hong Kong subsidiary, SEBA Hong Kong, received the regulatory motion to connection a scope of crypto-related services successful the region. According to the data available connected the SFC website, SEBA received the licence connected 3rd Nov.

SEBA SFC licence details. Source: SFC

The licence makes mode for SEBA successful dealing and organisation of each securities, including virtual assets-related products specified arsenic over-the-counter (OTC) derivatives. The licence marks SEBA’s archetypal footprint successful the Asia Pacific region.

SEBA archetypal launched an bureau successful Hong Kong successful November 2022 with a absorption connected expanding its services successful the portion and received an in-principle approval from SFC to connection virtual plus trading services successful August earlier this year. Apart from Switzerland, SEBA is besides progressive successful Abu Dhabi and present Hong Kong.

The SFC licence volition besides let SEBA to connection proposal connected securities and virtual assets and behaviour plus absorption for discretionary accounts successful accepted and virtual assets. The licence volition besides let the Swiss steadfast to connection its services to Institutional and nonrecreational investors, including firm treasuries, funds, household offices and high-net-worth individuals.

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Franz Bergmueller, the CEO of SEBA Group, successful an authoritative statement, said that Hong Kong has been astatine the centre of the crypto system since Bitcoin’s inception, and they are blessed to go a portion of the Hong Kong virtual plus system portion adding:

“The region’s robust ineligible strategy provides a coagulated instauration to behaviour crypto-related service. This regulatory clarity not lone benefits our concern but besides supplements Hong Kong’s presumption arsenic a planetary fiscal services hub, location to a multitude of marketplace leaders successful banking, plus management, and superior markets. “

Hong Kong 2023 marked its beingness successful the planetary crypto economy by mounting up favorable regulations for crypto companies to flourish. The metropolis has acceptable up a rigorous licence regime, making mode for lone a selected fewer platforms to connection its services to some planetary and retail customers. Out of astir a 100 firms that showed involvement successful opening their services successful Hong Kong erstwhile the authorities announced a crypto license, lone a handful of them managed to unafraid the existent license.

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