SEBA Bank, the digital assets financial institution, has partnered with the financial services firm HashKey Group to accelerate the institutional adoption of digital assets in Hong Kong and Switzerland. According to the announcement, the two firms will create solutions for institutional investors seeking to dive into the crypto ecosystem.
The move comes hot on the heels of HashKey Group’s acquisition of licenses from the Securities and Futures Commission in Hong Kong to operate within the country.Both firms have signed a Memorandum of Understanding (MoU) to solidify the partnership with a drafted approach to maintain regulatory requirements in the jurisdictions where they operate.
What the SEBA Bank-Hashkey partnership entails
The partnership between SEBA Bank and Hashkey Group is to restore trust and allay fears from investors across the cryptosphere. This is particularly relevant at this point in time, considering that the crypto market faces uncertainty driven by fear. Also, the two companies have emphasized they will be adhering strictly to all Anti-Money Laundering (AML), KYC, and other compliance policies.
The duo will leverage their digital asset service offerings as well as custody and asset management products to drive digital asset adoption in the two markets. By working together, they hope to provide the market with reliable and differentiated solutions and avenues for institutional and professional investors who are seeking to take exposure in the digital asset ecosystem.
Franz Bergmueller, Group CEO of SEBA Bank said:
“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.”
Per the terms of the partnership, SEBA Bank will serve as the official banking firm of the Hashkey Group in Switzerland. On the other hand, Hashkey Group will assume the role of the preferred digital asset trading and market development partner in Hong Kong. Through its highly sophisticated outfit, the Hashkey Pro helps secure investors’ assets by segregating them while in custody.