SEBA Bank obtains a tentative agreement for crypto services in Hong Kong
SEBA Hong Kong's approval adds to a flurry of regulated crypto activity that has taken place over the past month.< /p> = =.jpg 1x, https://images.cointelegraph.com/images/960_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDgvYmRjOWRmMTMtNmE2MS00ZTdhLTgyN2MtMTgzNDc1YTg4ZmRiLmpwZw== .jpg 2x" src="https:// alt="SE BA Bank obtains tentative agreement for crypto services in Hong Kong" class="lazy-image__img type:primaryImage"/> News Join us on social networks
The Hong Kong branch of the cryptocurrency-friendly Swiss bank SEBA Bank has received approval in principle from the Hong Kong Securities and Futures Commission (SFC) to trade in virtual assets.
On August 30, SEBA Hong Kong said its license approved in principle would allow it to operate with crypto products such as OTC derivatives, advise on virtual assets, and manage the assets of discretionary accounts in virtual assets.
Speaking to Cointelegraph, Amy Yu, CEO of SEBA Hong Kong for Asia-Pacific, said that Hong Kong offers huge potential due to the regulatory framework for virtual assets of the SFC and the legal system of the city.
Yu added that even though China has banned cryptocurrency trading, Hong Kong is “well positioned to exploit the Chinese market when it opens up” as it is in a strategic location due to its proximity to the mainland, while also being a special administrative area. China region.
"Hong Kong could once again serve as a gateway to China, offering the significant potential of cryptocurrencies and blockchain technology."
Regarding his decision to obtain a local license, Yu said that SEBA had received requests from crypto companies that were having “difficulties accessing and managing their digital assets through traditional vendors,” as well as interest private funds and family offices.
In Switzerland, SEBA Bank offers both traditional banking and crypto services such as trading, staking, lending and custody.
Related: 'Revolutionary Growth' Will Be Driven by Web3: Hong Kong's Financial Secretary
The SEBA's tentative approval comes amid a flurry of regulated crypto activity in Hong Kong.
The HashKey cryptocurrency exchange is the first exchange in Hong Kong to benefit from clearer regulations...
SEBA Hong Kong's approval adds to a flurry of regulated crypto activity that has taken place over the past month.< /p> = =.jpg 1x, https://images.cointelegraph.com/images/960_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDgvYmRjOWRmMTMtNmE2MS00ZTdhLTgyN2MtMTgzNDc1YTg4ZmRiLmpwZw== .jpg 2x" src="https:// alt="SE BA Bank obtains tentative agreement for crypto services in Hong Kong" class="lazy-image__img type:primaryImage"/> News Join us on social networks
The Hong Kong branch of the cryptocurrency-friendly Swiss bank SEBA Bank has received approval in principle from the Hong Kong Securities and Futures Commission (SFC) to trade in virtual assets.
On August 30, SEBA Hong Kong said its license approved in principle would allow it to operate with crypto products such as OTC derivatives, advise on virtual assets, and manage the assets of discretionary accounts in virtual assets.
Speaking to Cointelegraph, Amy Yu, CEO of SEBA Hong Kong for Asia-Pacific, said that Hong Kong offers huge potential due to the regulatory framework for virtual assets of the SFC and the legal system of the city.
Yu added that even though China has banned cryptocurrency trading, Hong Kong is “well positioned to exploit the Chinese market when it opens up” as it is in a strategic location due to its proximity to the mainland, while also being a special administrative area. China region.
"Hong Kong could once again serve as a gateway to China, offering the significant potential of cryptocurrencies and blockchain technology."
Regarding his decision to obtain a local license, Yu said that SEBA had received requests from crypto companies that were having “difficulties accessing and managing their digital assets through traditional vendors,” as well as interest private funds and family offices.
In Switzerland, SEBA Bank offers both traditional banking and crypto services such as trading, staking, lending and custody.
Related: 'Revolutionary Growth' Will Be Driven by Web3: Hong Kong's Financial Secretary
The SEBA's tentative approval comes amid a flurry of regulated crypto activity in Hong Kong.
The HashKey cryptocurrency exchange is the first exchange in Hong Kong to benefit from clearer regulations...
What's Your Reaction?
