SEBA Bank and HashKey will develop solutions for institutional investors looking to dive into the crypto space. With the crypto winter now slowing down developments within the industry, two digital asset-focused companies will partner to speed up digital asset adoption for institutions.
In an official announcement, crypto-focused SEBA Bank stated that it created a partnership with the financial services company HashKey Group to speed up the institutional adoption of digital assets in Switzerland and Hong Kong.
These two companies will strive to develop different Solutions for institutional investors who are looking to dive into the crypto space. Both firms stated that they are dedicated to compliance and embracing different regulatory networks within their jurisdictions.
Franz Bergmueller, SEBA Bank CEO, stated that in terms of offering licensing cryptocurrency products and services, Hong Kong is a leading jurisdiction. Due to that, SEBA Bank is ready to enter the local digital asset space and grow its presence within the nation through HashKey.
An executive at HashKey, Michel Lee, mentioned that their company is working under a “regulatory-first approach,” meaning that it is focused majorly on compliance. Lee said that SEBA Bank is operating on the same principles, making them excited about the partnership.
Recently, HashKey Group has received licenses from the Securities and Futures Commission (SFC) in Hong Kong to operate within the nation. On the flip side, the SEBA Bank was the first to be given a digital asset custody license within Switzerland that enables it to offer institutional custody services in 2021.Buy Bitcoin Now
With the recent waves brought about by the abrupt collapse of the FTX exchange, regulatory scrutiny will increase massively within the crypto industry based on institutional investors. Major institutional players within the industry have recently said that it is something that institutions have been waiting for. Based on some of the investors, hedge funds have been setting up digital asset teams but are somewhat held back by the lack of any regulatory clarity.
On September 20, the American stock exchange company NASDAQ began its preparations to provide custody solutions to institutions. Based on a report, the firm developed a group dedicated to providing institutional Bitcoin (BTC) and Ether (ETH) custody services.