Wen Instituitonal adoption? No one knows, but this partnership between SEBA Bank and HashKey could make it happen sooner than later.
With the crypto winter slowing down developments within the space, two digital asset-focused firms will work together to speed up digital asset adoption for institutions.
In an announcement sent to Cointelegraph, crypto-focused company SEBA Bank said that it formed a partnership with the financial services firm HashKey Group to accelerate the institutional adoption of digital assets in Hong Kong and Switzerland. The two firms will aim to create various solutions for institutional investors seeking to dive into the crypto ecosystem. Both companies said that they are dedicated to compliance and embracing various regulatory frameworks within their jurisdictions.
SEBA Bank CEO Franz Bergmueller said that Hong Kong is a leading jurisdiction in terms of providing licensing for crypto products and services. Because of this, SEBA Bank is eager to enter the local digital asset ecosystem and extend its presence within the country through HashKey. Michel Lee, an executive at HashKey, highlighted that his firm is working under a “regulatory-first approach,” meaning it’s focused on compliance. Lee noted that SEBA Bank is operating on the same principles, which makes him excited about the partnership.
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