Swiss-headquartered bank with virtual assets capabilities opens regional office in Hong Kong

Swiss-headquartered bank with virtual assets capabilities SEBA Bank AG (SEBA Bank) announced on 30 November 2022 that it has opened its regional office via its subsidiary SEBA (Hong Kong) Limited (SEBA Hong Kong) in Hong Kong, leveraging the city’s status as an international finance centre, as well as its supportive regulatory approach to virtual assets.

SEBA Bank provides a suite of fully regulated banking and investment services, including trading, structured products, bank accounts, cards, credit, staking, and crypto and non-fungible tokens (NFT) custody in Switzerland. The opening of its Hong Kong subsidiary is part of the group’s Asia-Pacific expansion plan to capture the business potential in the region.

SEBA Hong Kong will initially provide consultancy services and market research, as well as engaging strategic partners for its head office in Switzerland. SEBA Hong Kong has been exploring various licensing options in the region and has been in dialogues with different parties including InvestHK, market practitioners, law firms and regulators. Any regulated activities will be subject to the issuance of the relevant licences from the authorities, according to SEBA Hong Kong’s Managing Director, Mr Ludovic Shum.

Mr Shum said, "We are excited about Hong Kong’s commitment in becoming a virtual assets hub. With the city’s existing rule of law and established infrastructure in the financial sector, Hong Kong continues to act as an international financial centre and is open and inclusive towards the community of innovators engaging in the virtual assets business."

He added, "With its strengths as an international financial centre and its advantageous geographic location, Hong Kong is a strategic regional hub in Asia. It is also supportive in terms of its regulations and is the best place to capture opportunities in Asia for the virtual assets business."

Associate Director-General of Investment Promotion Mr Charles Ng welcomes the opening of SEBA Hong Kong. He said, "The Hong Kong Government is committed to developing Hong Kong as an international virtual assets centre. It issued the Policy Statement on Development of Virtual Assets in Hong Kong in October, setting out the vision and policy direction of the Government and pragmatically laying out the Government's support measures for the virtual assets industry. It is the best time for financial institutions, like SEBA Bank, to seize the opportunities and expand their virtual assets business in the region via Hong Kong."

About SEBA Bank

Founded in April 2018 and headquartered in Zug, SEBA Bank is a leading crypto bank in Switzerland having a suite of fully regulated banking services. In August 2019, SEBA Bank received a Swiss banking and securities dealer licence, and in September 2021 the CISA licence – the first time a reputed, regulatory authority such as FINMA has granted such licences to a financial services provider with a core capability in digital assets. In February 2022 SEBA Bank secured the Financial Services Permission from Abu Dhabi Global Market and opened an office in Abu Dhabi. For more information, please visit www.seba.swiss.

About InvestHK

InvestHK is the department of the Hong Kong Special Administrative Region Government responsible for attracting foreign direct investment and supporting overseas and Mainland businesses to set up or expand in Hong Kong. It provides free advice and customised services for overseas and Mainland companies. For more information, please visit www.investhk.gov.hk.

For a photo, please visit https://www.flickr.com/photos/investhk/albums/72177720304290636.

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07.12.2022
07.12.2022
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