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Swiss cryptocurrency bank SEBA Bank announced today (8th) that its subsidiary, "SEBA (Hong Kong) Limited," has obtained an operating license officially issued by the Securities and Futures Commission (SFC), allowing the company to operate cryptocurrency-related services in Hong Kong.
Upon investigation, "SEBA (Hong Kong) Limited" was granted the license on November 3rd under the Securities and Futures Ordinance to conduct regulated activities under Type 1 (dealing in securities), Type 4 (securities advisory), and Type 9 (asset management).
In terms of cryptocurrency-related services, the company will be able to "manage portfolios investing more than 10% in virtual assets" and "provide advice on virtual assets."
SEBA Bank further explained in the statement that this license will allow the Hong Kong subsidiary to trade and distribute all securities, including virtual asset-related products such as over-the-counter derivatives and structured products based on virtual assets. Additionally, the company can offer advice on securities and virtual assets, managing accounts for both traditional securities and virtual assets.
According to information on the Hong Kong Securities and Futures Commission website, "SEBA (Hong Kong) Limited" can only provide services to professional investors and is not allowed to hold client assets.
Amy Yu, CEO of SEBA Bank in the Asia-Pacific region, stated in the announcement, "Hong Kong's long-standing position at the forefront of finance, trade, and innovation has always been attractive to us, and providing services to clients in the Asia-Pacific region has been an important goal for our team." |
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Post time 13-11-2023 07:19:35