China Merchants Bank’s Crypto Arm Secures Game-Changing Hong Kong License

Hong Kong's crypto pivot gets a heavyweight backer.

China Merchants Bank's investment arm just scored one of the city's coveted virtual asset licenses—a clear signal that institutional money wants in on Asia's crypto hub ambitions.

The license win comes as Hong Kong tightens its regulatory framework while trying to lure crypto firms fleeing U.S. crackdowns. Because nothing says 'financial innovation' like playing regulatory arbitrage bingo.

This marks another step in CMB's quiet crypto empire-building—proving once again that while mainland China bans crypto trading, its financial giants are happy to profit from it offshore.

Watch for more Chinese banks to follow suit now that the ice is broken. The only thing Wall Street hates more than crypto? Missing out while Asia banks the profits.