The Hong Kong’s Securities and Futures Commission (SFC) has granted Switzerland-based crypto bank Seba an approval in-principle. Seba’s regional subsidiary will now operate in Hong Kong.
The approval is the first step in acquiring a full license for Seba Hong Kong to deal in crypto or virtual assets-related products and traditional securities.
Seba had received an Abu Dhabi Global Market license in February, 2022.
Founded in 2018, Seba became the first digital asset company to receive a license from the Swiss Financial Market Supervisory Authority (Finma) to offer banking and securities and services in 2019.
By January 2022, it had raised nearly $250 million, including a Series C funding round of $119 million for global expansion.