It has become sort of a usual thing for the cryptocurrency industry to attract institutional investors. However, with a vast amount of experience, the institutions know how to invest in crypto-blockchains.
Over the past couple of years, institutional investors have adopted cryptocurrencies in their own ways. Some investors such as MicroStrategy have gone for purchasing major cryptocurrencies.
Then there are institutions that have adopted and started offering cryptocurrencies to their users. The biggest example of this kind of investment by the institutional entity is PayPal.
PayPal adopted cryptocurrencies so it could offer users the ability to buy and sell cryptocurrencies. The online payments giant even launched an application dedicated to crypto custody and trading.
SEBA Bank and HashKey Group Join Hands
Despite the crypto winter, the cryptocurrency industry is seeing no end to adoption by institutional investors. They find the bearish market to be the best time to invest in the industry.
Therefore, multiple institutions have started to explore the cryptocurrency industry and gain from it while it is the right time.
Just recently, two major firms that are digital asset-oriented, have started taking interest in the adoption of cryptocurrencies.
They not only want to adopt cryptocurrencies themselves but they want to make it a global adoption for institutions. For this purpose, both firms have decided to collaborate and work to reach their goal.
SEBA Bank’s Announcement
The SEBA Bank recently issued a statement where it was mentioned that they have partnered with HashKey Group.
The purpose of the partnership is to accelerate the level of adoption of cryptocurrencies among institutions.
With their partnership, they want to target institutions and institutional investors based in Switzerland and Hong Kong.
Together, the firms will be working on the development of solutions that will aid investors from the institutional sector to use cryptocurrencies.
The solutions will play a key role in helping the institutions explore and grasp the cryptocurrency ecosystem.
They will find it easier to navigate throughout the cryptocurrency industry with the combined efforts of both firms.
Regulatory Compliance is a Top Priority
The firms have made it clear that they will not be showing any kind of leniency when it comes to regulations.
They have agreed that they will work together to ensure that the solutions they create and offer to the institutions are in compliance with the regulations.
They will be working on an entire regulatory framework around the cryptocurrencies and the solutions so there are no risks involved in the particular department.
In the meanwhile, they will continue adopting and adhering to other regulatory frameworks vital to the growth and expansion of the solutions.
Hong Kong is Extremely Regulated
Franz Bergmueller, the CEO of SEBA Bank stated that they know how welcoming Hong Kong has been towards cryptocurrencies. It is also very strict when it comes to regulating the cryptocurrency industry.
Every cryptocurrency firm needs to be authorized by the respective regulatory authority in Hong Kong before it can start operating in the jurisdiction.
However, Hong Kong is also very supportive of cryptocurrency adoption if everything is done by the book.
Bergmueller stated that they are confident that they will do everything according to the laws and regulations to expand their business in Hong Kong.
They want to bring cryptocurrencies to Hong Kong on a local level so they become part of the asset ecosystem there. For this purpose, they have signed a partnership with HashKey.
The firm will provide them with the passage and the support SEBA Bank needs to expand its services throughout Hong Kong.
According to SEBA Bank, they have realized that the cryptocurrency industry is here to stay. It is important that they proceed with the adoption of cryptocurrencies so they can start benefiting from them.
With the passage of time, they will continue expanding their services to other parts of the world. Their aim is to bring the crypto industry to the institutional platform for worldwide adoption.
When that happens, the crypto industry will thrive on an entirely different level.