HashKey Digital Asset Group and SEBA Bank have signed a partnership as they look to help accelerate adoption of digital assets in Hong Kong and Switzerland.
Two companies that are focused on digital assets will collaborate to hasten the adoption of digital assets by institutions as the crypto winter slows down advancements in the area.
The financial services company HashKey Group and crypto-focused SEBA Bank have partnered to speed up the institutional adoption of digital assets in Hong Kong and Switzerland.
The two businesses will work to develop a range of solutions for institutional investors looking to enter the cryptocurrency market. Both businesses declared their commitment to compliance and acceptance of different legal and regulatory frameworks in their respective countries.
Franz Bergmueller, CEO of SEBA Bank, stated that Hong Kong is a pioneering jurisdiction when it comes to granting licenses for cryptocurrency products and services.
As a result, SEBA Bank is keen to adopt HashKey to expand its presence in the nation and join the local digital asset ecosystem. HashKey executive Michel Lee emphasized that his company is focused on compliance and operates with a “regulatory-first approach.” Lee expressed excitement about the relationship because SEBA Bank follows the same principles.
The Hong Kong Securities and Futures Commission recently granted HashKey Group permission to conduct business there. In contrast, SEBA Bank became the first company to be given a digital asset custody license in Switzerland in 2021, enabling it to provide institutional custody services.
Institutional investors predict that regulatory monitoring will increase as a result of the recent waves that the FTX fiasco has caused to ripple across the industry. Recently, important institutional players remarked that this is what the institutions have been waiting for.
Some of them claim that despite hedge firms putting together digital asset teams, regulatory uncertainty prevents them from moving forward. According to reports, Nasdaq, a U.S. stock exchange, began planning to provide custody solutions to institutions on September 20, forming a team specifically focused on providing institutional Bitcoin (BTC $16,889) and Ether (ETH $1,249).
