Julius Baer-backed crypto bank SEBA will reportedly take advantage of the selloff as a buying opportunity, with plans to add more than a dozen staff in Asia.
SEBA will grow its headcount in Hong Kong and Singapore from around seven to more than 20, according to a report citing its Asia head of corporate development Eugene Sun. The Zug-headquartered crypto bank will hire legal, compliance, and relationship manager staff alongside plans to also obtain licenses in both cities.
We are finding the selloff to provide an opportunity commercially and in the war for talent, as clients and talent alike seek a more secure and more regulated platform for the promising future of digital assets, Sun said.
One of SEBA’s headline partners is LGT which announced a partnership in pay to provide crypto to clients domiciled in their home market of Liechtenstein or Switzerland. SEBA is also preparing to launch with LGT in Asia, according to the report which did not provide additional details.
Private banks generally are going to start to embrace crypto, said Sun.
SEBA Bank was founded in 2018 and now supports 25 markets worldwide with financial backers that include Julius Bear and DeFi Technologies.