According to Foresight News, Switzerland-based cryptocurrency bank SEBA Bank has obtained preliminary approval from the Hong Kong Securities and Futures Commission (SFC). This will enable the bank to engage in securities trading, including cryptocurrency-related products such as over-the-counter derivatives and structured products, as well as provide advice on securities and virtual assets, and asset management for discretionary accounts of traditional securities and virtual assets. SEBA's Asia-Pacific CEO, Amy Yu, stated that they expect to receive formal approval by the end of this year.