Switzerland-headquartered SEBA Financial institution AG has expanded its Asian footprint with a brand new workplace in Hong Kong by establishing a neighborhood subsidiary, SEBA (Hong Kong) Restricted.
Introduced on Wednesday, the brand new workplace is the primary bodily presence of the Swiss firm within the Asia-Pacific (APAC ) area. The Hong Kong subsidiary will initially give attention to consultancy companies and market analysis. Moreover, it is going to have the benefit of strategically partnering within the space for its Swiss head workplace.
Nevertheless, the Hong Kong subsidiary will not be licensed to conduct banking and monetary actions in China’s autonomous jurisdiction, nor supervised by banking and monetary authorities.
“We’re proud to strengthen our presence within the APAC market with the opening of the brand new workplace of SEBA Hong Kong,” stated SEBA Financial institution’s CEO, Franz Bergmueller.
Ludovic Shum is main the brand new workplace because the Managing Director. He has been working with the corporate for a 12 months and has intensive expertise round compliance working with monetary companies giants and regulators. Beforehand, he labored for Credit score Suisse, Hong Kong’s Securities and Futures Fee, Merrill Lynch, HSBC and a few different corporations.
“With a substantial pedigree as a global monetary middle, in addition to a supportive regulatory method to cryptocurrencies, Hong Kong is cementing its place as a worldwide chief in cryptocurrencies,” added Bergmueller.
Going Worldwide
SEBA was among the many first cryptocurrency startup to obtain a banking license in Switzerland and launched companies in November 2019. On prime of that, it acquired a CISA license to behave as a custodian financial institution for Swiss collective funding schemes. Furthermore, the corporate bolstered its worldwide ambitions by gaining an Abu Dhabi license earlier this 12 months.
Since its institution in 2018, SEBA has raised $246.9 million in funding, in line with Crunchbase. It closed its final funding spherical earlier this 12 months, elevating $120 million.
“The opening of our Hong Kong workplace is important to our ambition within the area,” stated Shum.
“By strengthening our presence in a key worldwide monetary centre, we’re proud to type a part of the crypto ecosystem and to contribute in direction of the event of the digital/digital property area in Hong Kong and the area.”
Switzerland-headquartered SEBA Financial institution AG has expanded its Asian footprint with a brand new workplace in Hong Kong by establishing a neighborhood subsidiary, SEBA (Hong Kong) Restricted.
Introduced on Wednesday, the brand new workplace is the primary bodily presence of the Swiss firm within the Asia-Pacific (APAC ) area. The Hong Kong subsidiary will initially give attention to consultancy companies and market analysis. Moreover, it is going to have the benefit of strategically partnering within the space for its Swiss head workplace.
Nevertheless, the Hong Kong subsidiary will not be licensed to conduct banking and monetary actions in China’s autonomous jurisdiction, nor supervised by banking and monetary authorities.
“We’re proud to strengthen our presence within the APAC market with the opening of the brand new workplace of SEBA Hong Kong,” stated SEBA Financial institution’s CEO, Franz Bergmueller.
Ludovic Shum is main the brand new workplace because the Managing Director. He has been working with the corporate for a 12 months and has intensive expertise round compliance working with monetary companies giants and regulators. Beforehand, he labored for Credit score Suisse, Hong Kong’s Securities and Futures Fee, Merrill Lynch, HSBC and a few different corporations.
“With a substantial pedigree as a global monetary middle, in addition to a supportive regulatory method to cryptocurrencies, Hong Kong is cementing its place as a worldwide chief in cryptocurrencies,” added Bergmueller.
Going Worldwide
SEBA was among the many first cryptocurrency startup to obtain a banking license in Switzerland and launched companies in November 2019. On prime of that, it acquired a CISA license to behave as a custodian financial institution for Swiss collective funding schemes. Furthermore, the corporate bolstered its worldwide ambitions by gaining an Abu Dhabi license earlier this 12 months.
Since its institution in 2018, SEBA has raised $246.9 million in funding, in line with Crunchbase. It closed its final funding spherical earlier this 12 months, elevating $120 million.
“The opening of our Hong Kong workplace is important to our ambition within the area,” stated Shum.
“By strengthening our presence in a key worldwide monetary centre, we’re proud to type a part of the crypto ecosystem and to contribute in direction of the event of the digital/digital property area in Hong Kong and the area.”
