This licence will allow SEBA Hong Kong to carry out regulated activities in Hong Kong, like handling in securities and products involving virtual assets, such as OTC derivatives and structured products, providing advice on securities and virtual assets, as well as managing assets for optional accounts in both traditional securities and virtual assets.

When the licence is granted, the firm will become one of the first authorised businesses in Hong Kong to offer investment services that include cryptocurrency capabilities, making the bank with its headquarters in Switzerland a significant innovator in the city’s emerging crypto industry.

Amy Yu, CEO APAC, SEBA Hong Kong, said: “It is exciting to be at the forefront of innovation in one of the world’s leading financial and technological centres, Hong Kong. This AIP signifies that all our efforts are heading in the right direction – SEBA group wants to service crypto investors in jurisdictions that recognise the value of digital assets. We see enormous potential in Hong Kong’s journey to becoming a global crypto market leader and look forward to contributing to that trajectory. SEBA Hong Kong commends the example Hong Kong sets for regulatory standards worldwide and values the role of this licence in expanding our regulated footprint across Asia Pacific”.

Acquiring an AIP is the initial step in SEBA Hong Kong’s journey to securing an official licence, which will allow it to operate as a licenced firm provided all SFC conditions are completed.

The AIP reaffirms the company’s standing as a trustworthy and regulated partner in the market, marks a critical turning point in the SEBA Group’s Asia Pacific strategy, and is a significant step towards the SEBA Group’s goal of protecting the future of the global crypto economy.

Franz Bergmueller, group CEO, SEBA Bank, added: “Complementing SEBA group’s established licences in Switzerland (FINMA) and Abu Dhabi (FSRA), the Hong Kong AIP significantly extends our global regulatory footprint. SEBA group aligns itself with the Hong Kong government and its financial regulators in facilitating an environment that supports the responsible growth of the digital assets industry.”

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With this licence, SEBA Hong Kong will be able to offer customers wealth management, investment, and advisory services while maintaining the regulatory oversight and high standards of customer service.