Swiss crypto bank SEBA has received an approval in principle (AIP) licence from Hong Kong’s Securities and Futures Commission.
SEBA offers financial services spanning wealth management, investment, trading, and advisory services.
Issued to its subsidiary within Hong Kong, the licence provides SEBA with a platform to operate regulated activities in virtual assets and makes it the first licensed corporation in the region with crypto capabilities.
“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,” said Amy Yu, chief executive for APAC and SEBA Hong Kong. “We see enormous potential in Hong Kong’s journey to becoming a global crypto market leader and look forward to contributing to that trajectory.”
The news follows proposals from the government of Hong Kong for new measures that would allow retail investors to trade in cryptocurrencies and crypto exchange-traded funds.
In October 2022, Hong Kong financial secretary Paul Chan reportedly told attendees at the Hong Kong FinTech Week conference: "We want to make our policy stance clear to the global market, to demonstrate our determination to explore fintech with the global virtual asset community.”
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