The AIP has been granted to SEBA Hong Kong for its license application, allowing the subsidiary to engage in regulated activities within Hong Kong. These activities include dealing in securities, including virtual asset-related products such as over-the-counter derivatives and structured products. Additionally, SEBA Hong Kong can provide advisory services for securities and virtual assets, as well as conduct asset management for discretionary accounts involving traditional securities and virtual assets.
Once the licence is issued, SEBA Hong Kong will become one of the initial licensed corporations in Hong Kong authorised to offer investment services with crypto capabilities, thus positioning the bank as a notable participant in Hong Kong's crypto economy. The approval-in-principle reflects SEBA Hong Kong's progress toward obtaining an official licence, pending the fulfilment of all SFC conditions.
Officials from SEBA Hong Kong noted the significance of the AIP in advancing the bank's efforts to serve crypto investors in jurisdictions that value digital assets. They also talked about Hong Kong's regulatory standards and expressed enthusiasm for contributing to the city's emergence as a global crypto market leader.
SEBA Bank's Group representatives highlighted the AIP as a demonstration of the bank's dedication to compliance and due diligence. They emphasised the importance of regulatory alignment in supporting responsible growth within the digital assets industry. The forthcoming license for SEBA Hong Kong has the potential to support the bank in its efforts to expand into the Asia Pacific region. The Hong Kong subsidiary aims to provide wealth management, investment, and advisory services, delivering the security and customer experience associated with a regulated institution on a local level.
In January 2023,SEBA Bank announced the launch of a new crypto banking offer for its clients. Customers can choose between three programmes, namely Gold, Platinum, and Corporate. The Gold and the exclusive Platinum programmes offer professional investors access to in stitutional-grade crypto andtraditional financial services, while the Corporate programme is aimed at companies active in the field of crypto that also require traditional banking services.
SEBA opened its first office in Hong Kong in December 2022 in a bid to expand its operations. SEBA Hong Kong initially offered consultancy services and market research, but it also engaged strategic partners for the bank’s main office in Switzerland.
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