Discover how SEBA Bank, a crypto-friendly Swiss institution, takes a significant step towards obtaining a full crypto license in Hong Kong through its subsidiary, SEBA Hong Kong. Explore the bank's ambitions to offer crypto-related services and contribute to Hong Kong's growing prominence in the global crypto market.




Switzerland-based crypto-friendly SEBA Bank has taken a significant step towards obtaining a full crypto license in Hong Kong, with its subsidiary, SEBA Hong Kong, receiving approval-in-principle from the Chinese Special Administrative Region's Securities and Futures Commission (SFC). This regulatory milestone brings SEBA Bank closer to becoming a licensed provider of various crypto asset services within the Chinese region.


The approval-in-principle allows SEBA Hong Kong to conduct regulated activities, including dealing in securities and crypto-related products such as over-the-counter derivatives and structured products. As a subsidiary of SEBA Bank, which is backed by Swiss banking giant Julius Baer, SEBA Hong Kong specializes in providing wealth management, investment, and trading solutions for the digital age. With a Hong Kong license, the bank's subsidiary will also be authorized to manage assets for discretionary accounts involving both traditional securities and virtual assets.


Hong Kong, aiming to rejuvenate its status as a global financial hub in the aftermath of the COVID-19 pandemic, has been actively fostering conditions conducive to crypto businesses. The introduction of rules in June for retail crypto trading mandated that trading platforms and exchanges acquire special licenses to operate.


SEBA Hong Kong's CEO, Amy Yu, expressed enthusiasm about the prospects of serving crypto investors in jurisdictions that value digital assets. The bank sees Hong Kong's journey towards becoming a global crypto market leader as highly promising and seeks to contribute to this trajectory.


Upon meeting all the conditions set by the SFC and obtaining the license, SEBA Hong Kong will emerge as one of the initial companies licensed in the Chinese region to offer investment services with crypto capabilities. The SEBA Bank group, including entities like Hashkey Exchange and OSL, is strategically positioning itself within various jurisdictions, with Switzerland and Abu Dhabi being among the locations where the bank is already seeking licensing and regulation.


(Lubomir Tassev, Bitcoin News, 2023)