Crypto Bank SEBA Hires Ex-JPMorgan Banker as Asia Pacific Head

• A former JPMorgan banker will be heading SEBA Bank’s Asia Pacific market.
• The new CEO said SEBA is processing licenses in Singapore and Hong Kong.
• Alameda research has about a 1% stake in SEBA bank.

SEBA Bank AG, a crypto-financial technology firm, has appointed an Ex-JPMorgan banker, Amy Yu, as its Asia Pacific chief executive officer.

Yu, who previously helped JPMorgan build its prime services division, joined the crypto industry in 2018. She first worked for BitMex exchange in the global institutional sales department and subsequently joined Genesis Trading, which filed for bankruptcy earlier this year.

The newly-appointed CEO revealed that SEBA was exploring licensing in Singapore and Hong Kong and that her location would depend on how licensing conversations progress in the two regions. She added:

Singapore seemed clearer with welcoming crypto businesses earlier. It feels like they’re reviewing their current stance on the industry.

Previously, the FTX sister firm, Alameda Research, participated in a funding round at SEBA Bank. According to Yu, its stake in SEBA was less than 1%, with no voting rights, and the company had no other dealings with Alameda or FTX.

In related news, Australian-founded derivatives broker Eightcap recently announced the appointment of Alex Howard as CEO. Joel Murphy, the founder and outgoing CEO, said he was confident that Eightcap would continue to thrive under Howard’s leadership. Murphy added:

Alex is an outstanding choice, bringing over a decade of experience in financial services, a deep knowledge of the derivatives industry, and a proven track record of success in leadership roles.

Last Friday, Gemini crypto appointed Tyler Skelton as its head of finance. The appointment came roughly two weeks after the Securities and Exchange Commission (SEC) charged Gemini and its partner with selling unregistered securities through a crypto lending program, Gemini Earn.