Crypto Bank SEBA Granted Hong Kong Regulator’s Approval

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SEBA Bank, a Switzerland-based licensed cryptocurrency bank, has been granted in-principle approval by the SFC to carry out digital asset-related activities in Hong Kong.

This license entitles the company to provide services such as securities dealing, over-the-counter derivatives and structured products, as well as providing advice and managing assets in trust accounts.

The APAC CEO Amy Yu expressed confidence that full official approval would be granted by the end of 2021, in light of the huge potential in Hong Kong and Singapore for banking services demanded by crypto firms.

SEBA Bank opened its Hong Kong office in November 2021, and the Hacker Bay Financial Services and Treasury had announced earlier the relaxation of cryptocurrency-related restrictions, thus creating strong potential for growth in the region.

The future plans for expansion include obtaining licenses in countries such as Singapore.