SEBA Bank partnered with HashKey to leverage digital asset service offerings
SEBA Bank partners with HashKey to leverage their digital asset service offerings. This will accelerate the institutional adoption of digital assets. Crypto-focused company SEBA Bank announced a strategic partnership formed with the financial services firm HashKey Group to use their digital asset service offerings and custody and asset management products. This step is taken to accelerate the institutional adoption of digital assets in Hong Kong and Switzerland.
Both companies are ready to accept various regulatory frameworks within their jurisdictions to create solutions for institutional investors seeking to dive into the crypto ecosystem.
A Memorandum of Understanding (MOU) between the two businesses has been inked. The agreement was made for HashKey to become SEBA Bank's preferred partner for digital asset trading and market expansion in Hong Kong.
SEBA Bank will be HashKey's preferred banking partner in Switzerland. The agreement is for the benefit of institutional and experienced investors.
The agreement is for the benefit of institutional and experienced investors. Clients can access trading, custody, infrastructure, and other financial services from Hashkey Group which is an end-to-end provider of digital asset financial services in Asia. The two companies also state that they are committed to following the strictest compliance, Know-Your-Customer (KYC), and Anti-Money-Laundering (AML) guidelines and regulations set forth by their respective authorities.
The Swiss-based SEBA Bank is subject to FINMA regulation and holds both a banking and a securities dealer license.
The HashKey Group conducts business in Singapore, Japan, and Hong Kong. The Securities and Futures Commission (SFC) of Hong Kong recently granted approval to HashKey Group through its subsidiary Hash Blockchain Limited to run a virtual asset trading platform. As a result, HashKey Group is now the second business in Hong Kong with a license to offer investors regulated trading services.
Early in 2022, SEBA Bank opened a branch in Abu Dhabi after obtaining Financial Services Permission from Abu Dhabi Global Market. The SEBA Bank opened a branch in Hong Kong last week.
HashKey's virtual asset trading platform, known as HashKey PRO, will segregate assets under HashKey Custody Services Limited, a holder of a Trust or Company Service Provider license in Hong Kong, in conformity with the regulatory framework outlined by the SFC.
CBW - External Analyst