Hong Kong's SEBA Bank Wins Approval To Offer Crypto Services
The Hong Kong division of SEBA Bank, a Swiss bank supportive of crypto, has obtained in-principle approval from the Hong Kong Securities and Futures Commission [SFC]. This approval permits the bank to engage in transactions involving digital assets. JUST IN: 🇭🇰 Hong Kong bank SEBA gains approval to offer #Bitcoin & crypto services. — Watcher.Guru (@WatcherGuru) August 30, 2023 SEBA announced on Aug. 30 that its latest license will enable the bank to deliver crypto offerings, including over-the-counter derivatives, advice on virtual assets, and managing assets for discretionary accounts involving digital assets as well as traditional securities. The Hong Kong branch, however, won’t have the capability to convert between fiat currencies and cryptocurrencies. It can, nevertheless, direct clients to its Zug headquarters, which holds the necessary license for such conversions. Hong Kong marks the third market where SEBA has pursued a license. T...