Switzerland-based crypto-focused financial institution SEBA Bank has secured a regulatory license from Hong Kong regulators through its local wholly-owned subsidiary, enabling the entity to offer regulated cryptocurrency services to institutional investors in the city-state.

The full license comes three months after SEBA received in-principle approval from the Hong Kong regulators and nearly a year after the Swiss crypto bank first established an office in the region.

SEBA Fully Licensed to Operate in Hong Kong

SEBA Hong Kong, a subsidiary of SEBA Bank, received a license from the Hong Kong Securities and Futures Commission (SFC) as part of the bank’s global expansion plans, according to an announcement on Nov. 8, 2023.

The new license allows SEBA Hong Kong to deal with and distribute all manner of securities, which include products related to digital assets such as over-the-counter (OTC) derivatives. Also, the entity will be able to offer advice on digital assets and securities and further “conduct asset management for discretionary accounts in both traditional securities and virtual assets.”

SEBA Hong Kong’s SFC license will enable the firm to cater to institutional and professional investors in the city-state, as stated in the official announcement, some of which include funds, high-net-worth individuals, and corporate treasuries.

Commenting on the latest development, Group CEO of SEBA Bank, Franz Bergmueller, said that Hong’s clear regulatory framework is advantageous for the bank and also allows businesses to seamlessly use cryptocurrency services.

“The region’s robust legal system provides a solid foundation to conduct crypto-related services and we look forward to beginning that from today.”

Hong Kong Remains Attractive to Crypto-Related Businesses

SEBA Bank first established an office in Hong Kong in November 2022, marking the firm’s first foray into the Asia-Pacific (APAC) region. In August 2023, the Hong Kong subsidiary obtained