SEBA Bank and Hashkey Group Forms Partnership to Drive Institutional Adoption
Swiss digital currency bank SEBA Bank has inked a strategic partnership with Hashkey Group to float new products and services that will drive institutional adoption of cryptocurrencies. As announced, 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.
Per the terms of the partnership, SEBA Bank will serve as the official banking firm of the Hashkey Group in Switzerland while Hashkey Group will assume the role of the preferred digital asset trading and market development partner in Hong Kong.
Both firms have become dominant players in their respective jurisdictions with the Hashkey group becoming the second company to be granted the from the Securities and Futures Commission (SFC) to operate a digital currency trading business in the region. The company, through its highly sophisticated outfit, the Hashkey Pro helps secure investors’ assets by segregating them while in custody.
“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. 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.”
Despite the massive evolution in the digital currency ecosystem today, investors are still very wary of injecting funds, a scare that was compounded by the ethical loopholes that eventually fueled the collapse and a slip to the bankruptcy of the FTX Derivatives Exchange. With FTX’s former CEO, Sam Bankman-Fried illegally taking funds from customers, many are now unsure of which firms to trust or not.
SEBA Bank and Hashkey to Help Rebuild Industry Confidence
The partnership between SEBA Bank and Hashkey Group is forged to restore trust and allay fears from investors across the board. The duo has emphasized they will be adhering strictly to all Anti-Money Laundering (AML), Know Your Customer, and other compliance policies.
With the commitment of both parties, institutional investors looking to gain exposure in the space can get tailored offerings to suit their needs and goals across the board.
“Since our inception, HashKey has always prioritized the importance of protecting our clients’ funds and assets under a regulatory-first approach. We are excited to form this strategic partnership with SEBA Bank, a pioneer in the global digital investment market and one of the most innovative financial institutions in the world, who also shares the same ethos and core principles with us on regulatory compliance,” 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.”