SEBA Crypto Bank Granted Authority to Provide Virtual Asset Advisory Services in Hong Kong

SEBA Bank AG, backed by Julius Baer Group Ltd., has secured preliminary approval from Hong Kong’s regulatory body to offer licensed crypto-related services. 

Pending full approval, SEBA Hong Kong will handle securities, encompassing virtual asset-related over-the-counter derivatives and structured products. It will provide advisory services for both securities and crypto, as well as asset management for discretionary accounts involving traditional and virtual assets. 

This move aligns SEBA with other firms, such as HashKey Exchange and OSL, authorized to provide crypto services under Hong Kong’s recently initiated mandatory crypto framework. SEBA anticipates strong demand for derivatives and structured products in the region, with full approvals anticipated by year-end. The bank aims to serve crypto businesses lacking brokerage services in Hong Kong and is exploring opportunities in Singapore as well.

Clever Robot News Desk 31^th August 2023