Coinspeaker
SEBA Hong Kong Receives In-Principle Approval
The Swiss bank SEBA has received approval in principle for its regional subsidiary – SEBA Hong Kong. The bank received its license from the Hong Kong Securities and Futures Commission (SFC).
Unlike China, which banned crypto trading, Hong Kong recently modified its crypto policies and reopened to digital asset firms. Its legislative council also introduced full licensing for crypto platforms to offer retail trading services.
Consequently, the license means SEBA’s regional subsidiary can now deal in virtual assets-related products like OTC derivatives and structured products. SEBA Hong Kong will also advise on securities and virtual assets and conduct asset management for discretionary accounts in traditional and virtual assets.
A Commitment to Regulation
Already, the Swiss bank has regulatory approval in Switzerland and Abu Dhabi. Group CEO of SEBA Bank, Franz Bergmueller, believes the additional license extends the bank’s
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