Chinese Bank Subsidiary CMB International Obtains First Cryptocurrency Licensure in Hong Kong
Hong Kong is taking strides to establish itself as a global leader in the virtual asset industry. On July 14, 2025, CMB International Securities Co., Ltd., a subsidiary of China Merchants Bank, became the first Chinese bank-affiliated securities firm in Hong Kong to secure a virtual asset trading services license from the Hong Kong Securities and Futures Commission (SFC).
This significant milestone is a sign of a broader effort to expand Hong Kong's virtual asset regulatory framework. The license allows CMB International to offer virtual asset trading and related services, including custody and advisory, to qualified investors in Hong Kong.
The state-owned stake of 43.48% in China Merchants Bank underscores the strategic importance of this venture within the broader Chinese financial landscape. CMB International, the seventh-largest bank in mainland China, will facilitate qualified investors in investing in digital assets alongside their traditional stock holdings.
Despite direct crypto engagement being prohibited on the mainland, this venture signifies a growing acceptance of virtual assets within traditional financial institutions in China. This regulatory clarity in Hong Kong is attracting more institutional players, as it aims to establish a safe and compliant virtual asset ecosystem.
The move aligns with Hong Kong's proactive strategy to attract more financial institutions to its virtual asset market. The SFC is actively pursuing initiatives to create a robust and clear licensing regime for virtual asset service providers.
In addition, Hong Kong is being used as a "digital asset bridge" for Chinese entities looking to engage with the crypto market under a regulated framework. A stablecoin ordinance is set to take effect in Hong Kong on August 1, 2025, further strengthening its position as a hub for digital assets.
CMB International Securities Co., Ltd. has emphasized its commitment to contributing to this endeavour. The company plans to explore the inclusion of cryptocurrencies in diversified portfolios, marking a significant step in the integration of traditional finance with the burgeoning digital asset space in the region.
The acquisition of this license was reported by PA News, and while specific institutions that have received a license for virtual securities trading services are not detailed in the search results, it is clear that Hong Kong is making strides towards becoming a leading global hub for virtual assets.
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