Zug-based SEBA has obtained an approval-in-principle from Hong Kong’s Securities and Futures Commission to conduct licensed crypto activities in the city.
SEBA Hong Kong has received an approval-in-principle (AIP) from the Securities and Futures Commission to conduct licensed crypto-related services in Hong Kong, according to a statement.
The approved activities cover dealing in securities, including virtual asset-related products such as OTC derivatives and structured products; advising on securities and virtual assets; and conducting asset management for discretionary accounts in both traditional securities and virtual assets. The AIP will also potentially lead to an official license once all regulatory conditions are met.
«We see enormous potential in Hong Kong's journey to becoming a global crypto market leader and look forward to contributing to that trajectory,» said APAC CEO Amy Yu.
Global Expansion
In January 2022, SEBA announced that it had raised another $119 million to fund expansion outside its home market of Switzerland. Within Asia, it is focused on the dual hubs of Hong Kong and Singapore under the leadership of ex-JPMorgan banker Yu, who joined the crypto lender in February this year.
«Complementing SEBA group’s established licences in Switzerland and Abu Dhabi, the Hong Kong AIP significantly extends our global regulatory footprint,» added group CEO Franz Bergmueller.
