Julius Baer-Backed Crypto Bank Ramps Up in Asia After Selloff

SEBA Bank AG, an online bank backed by Julius Baer Group Ltd.that’s focused on digital assets, plans to more than double its headcount in Asia, despite the recent rout in crypto assets.

The bank is seeking to increase its staffing to more than 20 in Hong Kong and Singapore, from about seven people now, adding legal, compliance and relationship manager staff, Eugene Sun, the bank’s head corporate development for Asia. The lender is seeking licenses in both cities, he said.

The ramp-up comes even as cryptocurrencies have slumped, with the collapse of the Terra ecosystem rattling investors. ...