Market News

Bitcoin's Milestone: CMB International Introduces 24/7 Crypto Trading in Hong Kong

CMB International Securities, a subsidiary of China Merchants Bank, has recently launched a groundbreaking 24/7 trading platform for Bitcoin and other cryptocurrencies in Hong Kong.

This initiative makes CMB International the first Chinese bank-affiliated securities firm to offer compliant crypto transactions in the vibrant financial hub.

The platform allows investors to trade Bitcoin, Ethereum, and Tether through a mobile app, subject to Know Your Customer (KYC) procedures.

The launch is backed by newly approved Type 1 and Type 7 licenses granted by Hong Kong's Securities and Futures Commission, ensuring regulatory adherence.

This move not only establishes CMB International as an industry pioneer but also reinforces Hong Kong's ambition to become a global crypto hub amidst a rapid expansion of digital asset adoption.

CMB International's assets exceed 130 billion yuan, with the expectation that their crypto services will further accelerate growth.

Moreover, the trading platform is enhancing security with advanced measures like cold storage and real-time risk monitoring, addressing investor concerns.

As Hong Kong continues to improve its regulatory framework, Financial Secretary Paul Chan emphasizes the government's support for traditional financial institutions entering crypto markets.

This development positions Hong Kong as a competitive player in the global cryptocurrency landscape, attracting both institutional and retail investors.

With an ever-growing interest in blockchain technology and digital assets, Hong Kong is set to navigate the promising yet complex world of crypto finance effectively.