The Securities and Futures Commission (SFC) of Hong Kong has granted a license to the Swiss fintech company SEBA Bank.
With the help of the license, SEBA Bank is able to carry out regulated business in Hong Kong, including the distribution of securities backed by virtual assets, client account management, and asset advice on cryptocurrency. Additionally, it enables SEBA Bank to handle, distribute, and offer advice on conventional securities like stocks.
The CEO of SEBA Bank, Franz Bergmueller, says, “We are very pleased to have added this Hong Kong license with the full approval from the SFC to our existing licenses in Switzerland (FINMA) and Abu Dhabi (FSRA). Hong Kong has been at the center of the crypto economy since Bitcoin’s inception.” The CEO of the company for Asia-Pacific, Amy Yu, commended the SFC for fostering a “facilitative” atmosphere during the licensing procedure.
September saw the debut of institutional Ethereum staking services by SEBA Bank, as previously reported by Cointelegraph. The company completed a $119 million Series C investment deal at the beginning of 2022.
