SEBA Hong Kong Restricted, a subsidiary of Swiss crypto financial institution SEBA Financial institution AG, has obtained an approval-in-principle from the Hong Kong Securities and Futures Fee (SFC) for its licensed crypto-related providers.
This development positions SEBA Hong Kong as the primary licensed company within the area outfitted to have interaction in regulated actions involving digital belongings.
With the backing of SEBA Financial institution’s experience, the corporate positions itself to imagine a big position in Hong Kong’s evolving crypto financial system. This includes fostering an setting of innovation and compliance inside the digital monetary panorama, contributing to the expansion and growth of the business.
SEBA Hong Kong has obtained the nod for its licence utility to function regulated actions in Hong Kong to deal in securities, together with digital assets-related merchandise, reminiscent of OTC derivatives and structured merchandise; advise on securities and digital belongings; and conduct asset administration for discretionary accounts in each conventional securities and digital belongings.
Crypto financial system
Amy Yu, CEO APAC, at SEBA Hong Kong, mentioned the approval-in-principle signifies that each one its efforts are on target.
Yu additionally commented: “SEBA group needs to service crypto buyers in jurisdictions that recognise the worth of digital belongings. We see huge potential in Hong Kong‘s journey to changing into a worldwide crypto market chief and look ahead to contributing to that trajectory. SEBA Hong Kong commends the instance Hong Kong units for regulatory requirements worldwide, and values the position of this licence in increasing our regulated footprint throughout Asia Pacific”.
Acquiring an approval-in-principle is step one within the firm’s path to buying an official licence that can enable it to function as a licensed entity as soon as all of the SFC situations have been met.
Franz Bergmueller, group CEO, SEBA Financial institution, additionally mentioned: “The AIP is a mirrored image of our staff’s dedication in the direction of compliance and due diligence — important pillars of tomorrow’s digital financial system. Complementing SEBA group’s established licences in Switzerland (FINMA) and Abu Dhabi (FSRA), the Hong Kong AIP considerably extends our international regulatory footprint.
“SEBA group aligns itself with the Hong Kong authorities and its monetary regulators in facilitating an setting that helps the accountable progress of the digital belongings business.”
