SEBA Bank, an encrypted banking institution, has obtained regulatory approval from the Hong Kong Securities and Futures Commission to offer over-the-counter derivatives and other encrypted-related products.

Odaily News: Swiss crypto bank SEBA Bank has received a provisional approval from the Hong Kong Securities and Futures Commission (SFC) to expand its operations in Asia.



According to SEBA officials, the SFC has issued an Approval in Principle (AIP) letter, allowing the institution to engage in securities trading activities, including cryptocurrency-related products such as over-the-counter derivatives and structured products. SEBA will also be able to provide advice on securities and virtual assets, as well as offer asset management services for traditional securities and virtual assets through discretionary accounts.



Amy Yu, CEO of SEBA in the Asia-Pacific region, said, "We believe there will be no issues in obtaining the formal approval by the end of this year."



Yu further added that Hong Kong and Singapore markets are SEBA's primary targets in Asia. "After Hong Kong, we will explore the licensing procedures in other jurisdictions, such as Singapore," she said. (The Block)