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Tag: seba

  • Swiss Crypto Bank Opens Hong Kong Office

    Swiss Crypto Bank Opens Hong Kong Office

    Swiss crypto bank SEBA will look to establish its Asia Pacific presence by opening a new office in Hong Kong.

    According to a statement, SEBA has officially opened its Hong Kong office, with managing director Ludovic Shum appointed to lead the city’s executive team.

    The new office will serve to establish the crypto bank’s Asia Pacific presence and initial activities will include consultancy services, market research and engagement with strategic partners for the head office in Switzerland.

    According to SEBA, the choice of Hong Kong as its «first strategic location in APAC» is driven by the city’s supportive licensing framework, with local authorities recently announcing ambitions to become a crypto hub.

    We are proud to strengthen our presence in the APAC market with the opening of the new office of SEBA Hong Kong, said SEBA Bank CEO Franz Bergmueller. With a considerable pedigree as an international financial center and a supportive regulatory approach to cryptocurrencies, Hong Kong is cementing its position as a global leader in cryptocurrencies.

    SEBA is a Zug-based crypto lender that provides services across trading, structured products, bank accounts, cards, credit, staking, and crypto and non-fungible token custody. Its backers include Swiss private bank Julius Baer.

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  • SEBA to Add More Than a Dozen Staff in Asia

    SEBA to Add More Than a Dozen Staff in Asia

    Julius Baer-backed crypto bank SEBA will reportedly take advantage of the selloff as a buying opportunity, with plans to add more than a dozen staff in Asia.

    SEBA will grow its headcount in Hong Kong and Singapore from around seven to more than 20, according to a report citing its Asia head of corporate development Eugene Sun. The Zug-headquartered crypto bank will hire legal, compliance, and relationship manager staff alongside plans to also obtain licenses in both cities.

    We are finding the selloff to provide an opportunity commercially and in the war for talent, as clients and talent alike seek a more secure and more regulated platform for the promising future of digital assets, Sun said.

    One of SEBA’s headline partners is LGT which announced a partnership in pay to provide crypto to clients domiciled in their home market of Liechtenstein or Switzerland. SEBA is also preparing to launch with LGT in Asia, according to the report which did not provide additional details.

    Private banks generally are going to start to embrace crypto, said Sun.

    SEBA Bank was founded in 2018 and now supports 25 markets worldwide with financial backers that include Julius Bear and DeFi Technologies.

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  • Crypto Bank Raises Money for Foreign Expansion

    Crypto Bank Raises Money for Foreign Expansion

    Seba is raising nearly $120 million, in a bid to fuel its expansion outside of Switzerland. Zug-based Seba raised 110 million Swiss francs ($118 million) from a host of new and existing investors, it said in a statement on Wednesday. The round was significantly oversubscribed, with demand far exceeding the initial funding target, the fledgling bank said. It didn’t disclose a valuation of itself, as rivals have done.

    Seba said it will use the funds to keep hiring and to expand into new markets. Investors in this round included Altive, Ordway Selections, Summer Capital, DeFi Technologies, Alameda Research, and Julius Baer.

    This comes just days after rival Sygnum raised $90 million in Asia-focused fundraising. The two banks were both granted licenses in Switzerland 28 months ago.

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