SEBA Hong Kong Gets In-Principle Nod for Crypto Servicesby Fintech News Hong Kong August 30, 2023
Crypto bank SEBA announced that its Hong Kong subsidiary has secured the in-principle approval from the Securities and Futures Commission (SFC).
The approval includes dealing in securities, such as virtual asset-related products, advising on securities and virtual assets, and conducting asset management for discretionary accounts in both traditional securities and virtual assets.
When SEBA Bank secures the full license, it will join the ranks of Hong Kong-based digital asset firms HashKey Exchange and OSL to be a licensed operator in the city.
Amy Yu, CEO APAC, SEBA Hong Kong said,
“This AIP (approval-in-principle ) 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.
SEBA Hong Kong commends the example Hong Kong sets for regulatory standards worldwide, and values the role of this license in expanding our regulated footprint across Asia Pacific”.
Franz Bergmueller, Group CEO, SEBA Bank said,
“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.