China Merchants Bank subsidiary launches crypto exchange in Hong Kong
A China Merchants Bank subsidiary launched a Hong Kong-based crypto exchange for professional investors after securing a virtual asset service provider license.
CMB International Securities Limited, a subsidiary of the China Merchants Bank (CMB) — one of China’s top banks — launched a cryptocurrency exchange in Hong Kong.
According to a Monday CMB WeChat announcement, the bank has started offering virtual asset trading services. The launch comes after the Hong Kong Securities and Futures Commission approved the bank’s application for a virtual asset service provider license in mid-July.
CMB’s Hong Kong-based crypto exchange allows for 24/7 trading of Bitcoin (BTC), Ether (ETH) and Tether’s USDt (USDT) for eligible investors. Documentation provided by the bank clarified that only professional investors are eligible for crypto trading services.
Read more
