Switzerland-based cryptocurrency financial institution SEBA Financial institution has marked a major milestone by acquiring a license from the Hong Kong Securities and Futures Fee (SFC). The license, granted on November third, represents a vital step for SEBA in increasing its cryptocurrency providers within the Asia Pacific area. SEBA Hong Kong, a subsidiary of SEBA Financial institution, is now approved to supply a variety of cryptocurrency-related providers throughout the space, as confirmed by the SFC’s official web site.
SEBA Financial institution established its first Hong Kong workplace in November 2022, underlining its technique to broaden its service spectrum in Asia. Following an preliminary permission in precept from the SFC in August 2023 for digital asset buying and selling providers, the latest licensing confirms SEBA’s operational enlargement outdoors its dwelling nation, together with a presence in Abu Dhabi.
With this new license, SEBA can have interaction within the buying and selling and distribution of all securities, encompassing digital asset-related merchandise like over-the-counter (OTC) derivatives. Furthermore, the license permits SEBA to supply advisory providers on securities and digital belongings and handle belongings for discretionary accounts, which embody each conventional and digital belongings.
SEBA’s providers, facilitated by this license, will cater to institutional {and professional} buyers equivalent to company treasuries, funds, household workplaces, and high-net-worth people. Franz Bergmueller, the Chief Govt Officer of SEBA, expressed enthusiasm in an official assertion, highlighting Hong Kong’s pivotal function within the cryptocurrency economic system since Bitcoin’s inception and the financial institution’s eagerness to contribute to Hong Kong’s digital asset market.
Hong Kong’s rigorous licensing system permits solely a choose few platforms to cater to each native and overseas shoppers, together with retail clients. Upon the federal government’s announcement to license crypto-related companies, roughly 100 corporations confirmed curiosity in establishing Hong Kong branches. Nonetheless, solely a handful have efficiently navigated the regulatory panorama to acquire clearance.
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