SEBA Bank, Hashkey Group, Form Partnership to Boost Digital Asset Adoption in Switzerland, Hong Kong

SEBA Bank and HashKey Group have formed a partnership that aims to boost digital asset adoption in Switzerland and Hong Kong.

According to a corporate statement, a Memorandum of Understanding (MOU) has been signed between the two firms. The agreement is for HashKey to become SEBA Bank’s preferred digital asset trading and market development partner in Hong Kong.

SEBA Bank is based in Switzerland and is regulated by FINMA, operating under both a Swiss banking and securities dealer license. In early 2022, SEBA Bank secured Financial Services Permission from Abu Dhabi Global Market and opened an office in Abu Dhabi. In the past week, SEBA Bank opened an office in Hong Kong.

Hashkey Group is an end-to-end digital asset financial services group in Asia providing trading, custody, infrastructure and more to Asian clients. HashKey Group has operations in Hong Kong, Singapore, and Japan. HashKey Group, through its subsidiary Hash Blockchain Limited, was recently granted approval from the Securities and Futures Commission (SFC) of Hong Kong to operate a virtual asset trading platform, becoming the second company in Hong Kong licensed to provide regulated trading services for investors.

Under the agreement, SEBA Bank will become the banking partner of choice for HashKey in Switzerland. The arrangement is to service institutional and professional investors.

The two firms also note that they are committed to complying with the regulatory frameworks of their respective jurisdictions with the highest standards of compliance, Know-Your-Customer (KYC), and Anti-Money-Laundering (AML) policies and measures.

In accordance with the regulatory framework set out by the SFC, HashKey’s virtual asset trading platform, named HashKey PRO, will segregate assets under HashKey Custody Services Limited, a holder of a Trust or Company Service Provider license in Hong Kong.

Franz Bergmueller, Group CEO of SEBA Bank, pointed to the supportive regulatory framework in Hong Kong, describing it as a leading jurisdiction globally in the licensing provision of digital asset products and services.

“It is important that the SEBA group becomes part of this ecosystem as a trusted, secure and transparent counterparty in this regulated crypto environment. We’re proud to partner with HashKey to establish and strengthen our presence in this critical market. As a leading provider of digital asset financial services in the Asian markets, HashKey will play an important role in expanding our presence and network in the region.”

Michel Lee, Executive President at HashKey Group, commented:

“Since our inception, HashKey has always prioritised the importance of protecting our clients’ funds and assets under a regulatory-first approach. We are excited to form this strategic partnership with SEBA Bank, a pioneer in the global digital investment market and one of the most innovative financial institutions in the world, who also shares the same ethos and core principles with us on regulatory compliance. Merging HashKey’s ecosystem of digital asset services along with SEBA Bank’s cutting-edge digital banking and finance infrastructure will allow us to offer to our clients the most secure and seamless gateway into the new digital economy.”

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