HashKey Digital Asset Group has entered into a strategic alliance with SEBA Bank to speed up the adoption of digital asset solutions by institutional and professional investors in Hong Kong and Switzerland.

Under the memorandum of understanding (MOU), HashKey will work as preferred digital asset trading and market development partner of SEBA Bank in Hong Kong.

SEBA Bank will serve as a banking partner of choice for HashKey in Switzerland.

Both the firms will provide their clients with digital asset service solutions in addition to custody and asset management tools.

They will comply with the relevant regulatory guidelines as well as ‘know-your-customer’ and anti-money laundering policies, under the tie-up.

SEBA Bank group CEO Franz Bergmueller said: “With a supportive regulatory framework, Hong Kong is a leading jurisdiction globally in the licensing provision of crypto products and services.

“It is important that the SEBA group becomes part of this ecosystem as a trusted, secure and transparent counterparty in this regulated crypto environment.”

SEBA Bank, which is a crypto bank in Switzerland, currently has licenses and branches in Switzerland and Abu Dhabi.

HashKey Group executive president Michel Lee said: “Merging HashKey’s ecosystem of digital asset services along with SEBA Bank’s cutting-edge digital banking and finance infrastructure will allow us to offer to our clients the most secure and seamless gateway into the new digital economy.”

Recently, HashKey subsidiary Hash Blockchain (HBL) secured an approval from Securities and Futures Commission (SFC) of Hong Kong to run a virtual asset trading platform in the city.