Crypto bank Seba opens office in Hong Kong, as the city aims to reclaim crypto hub status

Quick Take

  • Crypto bank Seba has opened an office in Hong Kong to drive its APAC growth.
  • The move comes as Hong Kong lays plans to become a crypto hub again.

Switzerland-headquartered Seba Bank expanded into Hong Kong with a new office as the Chinese region attempts to reclaim its status as a crypto hub.

The Hong Kong office will be a center for Seba's APAC growth plans, the bank said in a statement on Wednesday. Hong Kong recently outlined plans to become a crypto hub again as rival Singapore appears to be pivoting to stricter regulation. Hong Kong plans to widen the scope of crypto assets available in the city, while also exploring how to open the crypto market to retail investors.

"With a considerable pedigree as an international financial center, as well as a supportive regulatory approach to cryptocurrencies, Hong Kong is cementing its position as a global leader in cryptocurrencies," Seba Bank CEO Franz Bergmueller said in the statement.

Ludovic Shum, managing director at Seba Hong Kong, will oversee the new office. Shum previously worked for Credit Suisse, HSBC, Merrill Lynch and Securities and Futures Commission (SFC), Hong Kong's financial regulator, according to his LinkedIn profile.

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