HashKey Digital Assets Group and SEBA Bank‘s new partnership has its sights set on accelerating the institutional adoption of digital assets in Hong Kong and Switzerland.
HashKey and SEBA Bank are leveraging each other’s digital asset service offerings and custody and asset management products to accelerate the institutional adoption of digital assets in Hong Kong and Switzerland.
The group is to act as SEBA Bank’s digital asset trading and market development partner in its native Hong Kong. Likewise, SEBA Bank will be the banking partner of choice for HashKey in its home market of Switzerland.
This setup seeks to launch avenues for institutional investors who are seeking exposure in the digital asset ecosystem.
The partnership adheres to the regulatory frameworks of their respective jurisdictions with compliance, know-your-customer (KYC) and anti-money laundering (AML) policies.
SEBA Bank is a Swiss crypto bank. Its banking and investment services include trading, structured products, bank accounts, credit, custody and staking.
By partnering with HashKey, SEBA Bank will strengthen its offering to its institutional clients and partners. Its outreach to Hong Kong seeks to complement its existing licenses and branches in Switzerland and Abu Dhabi. Just last month, the bank established a Hong Kong office to assist in its regional expansion.
“With a supportive regulatory framework, Hong Kong is a leading jurisdiction globally in the licensing provision of crypto products and services,” says Franz Bergmueller, group CEO of SEBA Bank.
“It’s important that the SEBA group becomes part of this ecosystem as a counterparty in this regulated crypto environment,” he continues. “HashKey will play an important role in expanding our network in the region.”
The group serves as an end-to-end digital asset financial services group in Asia. Through its subsidiary Hash Blockchain Limited (HBL), it was recently granted approval from the Securities and Futures Commission (SFC) of Hong Kong. This approval allows it to operate its virtual asset trading platform.
It’s the second company in Hong Kong licensed to provide regulated automated trading services for professional investors for virtual assets.
HashKey’s virtual asset trading platform, ‘HashKey PRO’, secures client asset protection in accordance with the SFC regulatory framework.
The platform segregates client assets and holds them in custody through HashKey Custody Services Limited.
Michel Lee, executive president at HashKey Group, describes the group’s “regulatory-first” approach when protecting clients’ funds and assets. Lee says that its new partner “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 digital banking and finance infrastructure will allow us to offer our clients a gateway into the new digital economy,” Lee concludes.
Kristina Taylor is a highly knowledgeable journalist who has been following the financial news and cybercrimes space since 2011. She holds a degree in communication and media studies from Aarhus University and has always had a passion for writing.
Throughout her career, Kristina has become a well-traveled journalist within the industry and has contributed to many well-known publications. She has a keen eye for detail and is often found poring over white papers to gain deeper insights into the latest trends and developments.
Kristina’s extensive knowledge and experience in the field of finance and technology make her an invaluable contributor to Financial Magazine. She is highly respected in the industry and is known for her ability to break down complex concepts into easy-to-understand pieces for her readers.
The Most Read
Bitcoin and Altcoins Trading Near Make-or-Break Levels
Thieves targeted crypto execs and threatened their families in wide-ranging scheme
Visa Warning: Hackers Ramp Up Card Stealing Attacks At Gas Stations
Capitalism is having an identity crisis – but it is still the best system
The 73-year-old Vietnamese refugee is responsible for bringing Sriracha to American consumers
Electric Truckmaker Rivian, Backed By Amazon, Ford, Raises Whopping $1.3 Billion