(Kitco News) - To accelerate the institutional adoption of digital assets in Hong Kong and Switzerland, SEBA Bank, a regulated institution focused on cryptocurrencies, and the financial services firm HashKey Group have announced a new partnership.
Under the Memorandum of Understanding (MOU) signed by the two firms, HashKey will become SEBA Bank’s preferred digital asset trading and market development partner in Hong Kong while SEBA Bank will be the banking partner of choice for HashKey in Switzerland.
The new alliance is focused on bringing to market “reliable and differentiated solutions and avenues for institutional and professional investors who are seeking to take exposure in the digital asset ecosystem,” the press release said.
SEBA Bank is one of the leading crypto banks in Switzerland and offers a suite of fully regulated banking and investment services including trading, structured products, bank accounts, credit, custody and staking. In 2021, SEBA became the first firm to be granted a digital asset custody license in Switzerland which enabled it to offer institutional custody services.
The new partnership with HashKey will help SEBA Bank strengthen its institutional client offerings and “solidify its position as a global banking leader by complementing its existing licenses and branches in Switzerland and Abu Dhabi,” the release said.
This development follows SEBA Bank’s expansion into Hong Kong with a new office at the end of November.
“With a supportive regulatory framework, Hong Kong is a leading jurisdiction globally in the licensing provision of crypto products and services,” said Franz Bergmueller, Group CEO of SEBA Bank. “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.”
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For HashKey Group – which just last month received approval from the Securities and Futures Commission of Hong Kong to operate a virtual asset trading platform – the partnership helps establish an international working relationship with an active and trusted partner in the digital asset space.
“Since our inception, HashKey has always prioritized the importance of protecting our clients’ funds and assets under a regulatory-first approach,” said Michel Lee, Executive President at HashKey Group. “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.”
As part of the collaboration, the two groups confirmed their commitment to complying with and embracing the regulatory frameworks of their respective jurisdictions with the highest standards of compliance, Know-Your-Customer and Anti-Money Laundering policies and measures.
