To create solutions for institutional investors seeking to dive into the crypto ecosystem and accelerate the institutional adoption of digital assets in Hong Kong and Switzerland, two digital asset-focused firms partnered up to help halt or at least dwindle the existing crypto winter. This development came after SEBA Bank opened its new office in Hong Kong late last November.

The two parties are SEBA Bank, a regulated cryptocurrencies-focused bank, and HashKey Group, a financial services firm.

The two firms will work under the memorandum of understanding (MOU) they signed to achieve compliance while embracing different regulatory frameworks within their jurisdictions. The alliance will be built around creating and implementing “reliable and differentiated solutions and avenues for institutional and professional investors who seek to take exposure in the digital asset ecosystem’’ as announced by HashKey in a press release.

SEBA Bank is a leading crypto bank in Switzerland that offers regulated banking and investment services, such as trading, structured products, bank accounts, credit, custody, and staking.

SEBA was the first firm to be granted a digital asset custody license in Switzerland in 2021, which gave it the strategic advantage of offering institutional custody services. HashKey Group, on the other hand, just recently received its license from the Securities and Futures Commission in Hong Kong, which allows it to operate within the country. 

Franz Bergmueller, the group CEO of SEBA Bank, stated:

“With a supportive regulatory framework, Hong Kong is a leading jurisdiction globally in the licensing provision of crypto products and services. 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.”

Michel Lee, the executive president at HashKey Group, talked about how his firm is working under a regulatory-first approach:

“Since our inception, HashKey has always prioritized the importance of protecting our clients’ funds and assets under a regulatory-first approach. 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.”

HashKey will also help SEBA Bank to 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.