Crypto Transactions: SEBA Hong Kong Granted Approval-in-Principle for Provision of Virtual Currency Services

SEBA Bank, a global crypto bank that offers a range of financial services for the digital age, has announced that its subsidiary, SEBA Hong Kong, has received an approval-in-principle (AIP) from the Securities and Futures Commission (SFC) in Hong Kong. This AIP is a significant step towards SEBA Hong Kong obtaining a license to operate regulated activities in Hong Kong, including dealing in securities and virtual assets-related products, advising on securities and virtual assets, and conducting asset management.

Once the license is issued, SEBA Hong Kong will be among the first licensed corporations in Hong Kong to offer investment services with crypto capabilities in the market, positioning itself as a key player in the city’s growing crypto economy. Amy Yu, CEO APAC, SEBA Hong Kong, expressed excitement about being at the forefront of innovation in Hong Kong and recognized the potential for the city to become a global crypto market leader.

Obtaining the AIP is the initial step for SEBA Hong Kong in its journey towards acquiring an official license. This process involves meeting all the conditions set by the SFC. The AIP demonstrates SEBA Hong Kong’s commitment to compliance and due diligence and validates its position as a trusted and regulated partner in the market.

Franz Bergmueller, Group CEO of SEBA Bank, highlighted the importance of the AIP and its contribution to SEBA group’s mission of securing the future of the global crypto economy. He emphasized that SEBA group aligns itself with the Hong Kong government and financial regulators in fostering an environment that supports the responsible growth of the digital assets industry.

SEBA Hong Kong’s license will be a significant milestone in its Asia Pacific strategy, enabling the provision of wealth management, investment, and advisory services with the security and customer experience associated with a regulated institution.

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