Breaking: CMB International Makes History as First Chinese Bank Subsidiary to Land Coveted Hong Kong Crypto License

Hong Kong's crypto landscape just got a seismic shake-up. CMB International—the investment arm of China Merchants Bank—just bulldozed through regulatory barriers to secure the city's first crypto license for a Chinese bank subsidiary. Game on.

The move signals Hong Kong's accelerating pivot toward crypto legitimacy—while mainland China keeps playing whack-a-mole with miners. CMB's institutional heft could turbocharge local trading volumes...assuming the bureaucrats don't move the goalposts again.

One small step for compliance, one giant leap for banksters chasing 24/7 trading fees. The suits are coming—whether crypto purists like it or not.

CMB International Securities Co., Ltd. (CMB International), the Hong Kong subsidiary of mainland China's seventh-largest bank, China Merchants Bank, officially announced on July 14, 2025, that it has secured a VIRTUAL asset trading services license from the Hong Kong Securities and Futures Commission (SFC), PA News reported.

This landmark approval positions CMB International as the first Chinese bank-affiliated securities firm in Hong Kong to obtain such a license, marking a significant step in the integration of traditional finance with the burgeoning digital asset space in the region.

The newly acquired license will enable CMB International to offer virtual asset trading and related services, including custody and advisory, to qualified investors in Hong Kong. This move aligns with Hong Kong's proactive strategy to establish itself as a leading global hub for virtual assets, particularly as cryptocurrency activities remain largely restricted on mainland China.

Hong Kong is increasingly being leveraged as a "digital asset bridge" for Chinese entities looking to engage with the crypto market under a regulated framework.

CMB International stated that it plans to explore the inclusion of cryptocurrencies in diversified portfolios and will facilitate qualified investors in investing in digital assets alongside their traditional stock holdings. In a statement, CMBI Securities emphasized its commitment to "contribute to Hong Kong’s creation of a SAFE and compliant virtual asset ecosystem through the collaborative innovation of stock business and virtual assets."

This development comes amidst Hong Kong's broader efforts to expand its virtual asset regulatory framework. The Hong Kong SFC has been actively pursuing initiatives to create a robust and clear licensing regime for virtual asset service providers, including a stablecoin ordinance set to take effect on August 1, 2025.

This regulatory clarity is attracting more institutional players and signifies a growing acceptance of virtual assets within traditional financial institutions. The state-owned stake of 43.48% in China Merchants Bank underscores the strategic importance of this venture within the broader Chinese financial landscape, even as direct crypto engagement is prohibited on the mainland.