Swiss Crypto Bank SEBA Secures Hong Kong SFC License to Expand in Asia

SEBA Bank, a Swiss crypto bank, has successfully received a license from the Hong Kong Securities and Futures Commission (SFC) to offer a variety of crypto-related services in the region. This marks SEBA’s first significant step into the Asia Pacific market. The bank had set up its Hong Kong office in November 2022 and received in-principle approval for virtual asset trading services by August 2023.

The SFC license will enable SEBA to deal in and distribute securities, including products related to digital assets like over-the-counter (OTC) derivatives. It will also allow the bank to provide advisory services on securities and digital assets, as well as manage assets for discretionary accounts involving both traditional and digital assets. SEBA’s services will target institutional and professional investors, such as corporate treasuries, funds, family offices, and high-net-worth individuals.

Franz Bergmueller, CEO of SEBA, commented on the strategic importance of Hong Kong in the crypto economy and the clear regulatory environment that supports the city’s status as a global financial services hub. Hong Kong has introduced favorable regulations for crypto companies, establishing a strict licensing regime that has allowed only a select few firms to serve both international and local retail customers, despite the interest of nearly a hundred firms in establishing a presence in the region.