SEBA Bank Takes a Step Towards Full Crypto License in Hong Kong
SEBA Bank’s subsidiary in Hong Kong, SEBA Hong Kong, has received in-principle approval from the Securities and Futures Commission (SFC) of the Chinese Special Administrative region. This approval is for the bank’s application to conduct regulated activities in Hong Kong, including dealing in securities and crypto-related products. With the support of Swiss banking giant Julius Baer, SEBA Bank offers wealth management and trading solutions for the digital age. Obtaining a Hong Kong license will allow its subsidiary to manage assets for discretionary accounts in both traditional securities and virtual assets.
Main Points:
- SEBA Hong Kong has been granted in-principle approval by the SFC for a license to conduct regulated activities in Hong Kong.
- The license will enable SEBA Hong Kong to deal in securities and crypto-related products.
- SEBA Bank aims to service crypto investors in jurisdictions that recognize the value of digital assets.
- When it meets all conditions and obtains the license, SEBA Hong Kong will be among the first companies licensed in the Chinese region to offer investment services with crypto capabilities.
- SEBA Bank is already licensed in Switzerland and Abu Dhabi, and its group includes firms like Hashkey Exchange and OSL.
Hot Take: SEBA Bank’s in-principle approval for a full crypto license in Hong Kong is a significant step towards establishing itself as a major player in the global crypto market. By expanding its operations to Hong Kong, SEBA Bank can tap into the potential of the region as a crypto market leader and provide investment services with crypto capabilities to investors. This move aligns with Hong Kong’s efforts to revive its status as a global financial hub and create favorable conditions for crypto businesses.
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