1 year ago
Seba, a crypto slope based successful Switzerland, said it won approval-in-principle (AIP) from Hong Kong's Securities and Futures Commission (SFC) for its determination subsidiary arsenic it looks to widen its planetary presence.
The support is the archetypal measurement successful acquiring a afloat licence for Seba Hong Kong to woody successful crypto oregon virtual assets-related products and accepted securities. Hong Kong's caller regulatory authorities came into effect successful June successful an effort to pull firms to the region. The Zug-based slope received an Abu Dhabi Global Market license successful February, 2022.
"Complementing Seba Group’s established licenses successful Switzerland (FINMA) and Abu Dhabi (FSRA), the Hong Kong AIP importantly extends our planetary regulatory footprint," CEO Franz Bergmueller said successful a statement. "Seba Group aligns itself with the Hong Kong authorities and its fiscal regulators successful facilitating an situation that supports the liable maturation of the integer assets industry."
The SFC didn't instantly respond to a petition for comment.
Seba was founded successful 2018 and successful 2019 became the archetypal integer plus institution to person a licence from the Swiss Financial Market Supervisory Authority (Finma) to connection banking and securities and services. By January 2022, it had raised astir $250 million, including a Series C funding circular of $119 million for planetary expansion.
Edited by Sheldon Reback.
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