SEBA Hong Kong, the Hong Kong arm of the crypto-friendly Swiss-based bank SEBA Bank, announced it received in-principle approval from the Hong Kong Securities and Futures Commission (SFC).

 The Hong Kong branch of the Swiss SEBA Bank announced it was granted preliminary approval from the SFC, which allows it to deal in virtual assets. 

SEBA Hong Kong Completes First Step to Acquiring Official License

Today, SEBA Bank announced in a press release its Hong Kong subsidiary, SEBA Hong Kong, received approval-in-principle (AIP) from the SFC. 

According to its press statement, the AIP for its license application to operate regulated activities in the city-state allows it “to deal in securities, including virtual assets-related products, such as OTC derivatives and structured products; advise on securities and virtual assets; and conduct asset management for discretionary accounts in both traditional securities and virtual assets.”

SEBA explained that the license, when issued, allows SEBA Hong Kong to join the first group of licensed corporations in Hong Kong to offer investment services with crypto capabilities. Receiving an AIP is the first significant step in SEBA Hong Kong’s journey to obtaining an official license “that will allow it to operate as a licensed entity once all the SFC conditions have been met.” 

Amy Yu, CEO APAC of SEBA Hong Kong, commented:

“It is exciting to be at the forefront of innovation in one of the world’s leading financial and technological centres, Hong Kong. This AIP signifies that all our efforts are heading in the right direction –– SEBA group wants to service crypto investors in jurisdictions that recognise the value of digital assets.

We see enormous potential in Hong Kong’s journey to becoming a g

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Author: Jana Serfontein

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