SEBA Bank, a Swiss lender that focuses on crypto, has announced that its Hong Kong branch has received an in-principle approval from the local regulator to offer virtual asset trading services.
The approval from the Hong Kong Securities and Futures Commission (SFC) will enable SEBA Hong Kong to provide regulated crypto services such as over-the-counter derivatives, advice, and account management, once it is fully granted.
This is another significant achievement for the crypto industry in Hong Kong, which introduced a new crypto licensing regime in June that established a regulatory framework for exchanges and started to issue licences for retail trading services.