Hong Kong virtual asset trading license

Key Points:* CMB International licensed for virtual asset trading in Hong Kong.

• Enhances Chinese bank presence in digital assets sector.
• Institutional crypto adoption potential grows in Hong Kong. CMB International Capital Corporation Limited, a subsidiary of China Merchants Bank, secured approval from the Hong Kong Securities and Futures Commission on July 14, 2025, as the first Chinese bank-affiliated brokerage licensed for virtual asset trading services.

This regulatory milestone paves the way for increased Chinese institutional activity in Hong Kong’s virtual asset market, signifying possible broader adoption prospects.

CMB International’s Virtual Asset Trading Approval: Market Implications

CMB International obtained regulatory approval from the Hong Kong Securities and Futures Commission, making it the first Chinese bank-affiliated brokerage to offer virtual asset trading services. This move aligns with Hong Kong’s ambitions to become a digital asset hub, enhancing its market credibility. With this regulatory nod, CMB International will expand its offerings to include major cryptocurrencies, likely bitcoin and ethereum, subject to compliance. This development implies potential entry of further institutional players from mainland China into the Hong Kong digital asset market. Market observers have noted this trend of gradual regulatory openness, anticipating further announcements from the SFC. There were no immediate price surges of crypto assets due to this licensing as no product details are confirmed yet.

According to CoinMarketCap, Bitcoin (BTC) is valued at $119,311.57, reflecting a market cap of $2.37 trillion. The 24-hour trade volume spiked by 254.97% to $180.03 billion, correlating with notable price jumps, including a 42.99% increase over 90 days, as of July 15, 2025. Institutional interest in cryptocurrencies continues rising, as the Coincu research team highlights the potential for increased liquidity and credibility within the region due to such regulatory developments. This trend may result in further financial integration and technological adoption within Hong Kong’s burgeoning digital asset ecosystem, according to Coincu’s findings.

“There is no guarantee that all 11 platforms will secure licenses, as they must adhere to strict ‘regulatory red lines.’ These include measures to ensure investor protection, meet security standards, and maintain proper operational practices. …the SFC could share some ‘good news’ within the next month or two.”

— Ye Zhiheng, Executive Director of the Intermediary Department at the SFC, Chair of Hong Kong’s Fintech Advisory Group

Hong Kong’s Evolving Crypto Market and Institutional Expansion

Did you know? Hong Kong’s evolving regulatory landscape has positioned it as a crucial player in the Asia-Pacific crypto market, welcoming over 40 institutions bidding for stablecoin licenses.

According to CoinMarketCap, Bitcoin (BTC) is valued at $119,311.57, reflecting a market cap of $2.37 trillion. The 24-hour trade volume spiked by 254.97% to $180.03 billion, correlating with notable price jumps, including a 42.99% increase over 90 days, as of July 15, 2025.

Bitcoin(BTC), daily chart, screenshot on CoinMarketCap at 01:08 UTC on July 15, 2025. Source: CoinMarketCap Institutional interest in cryptocurrencies continues rising, as the Coincu research team highlights the potential for increased liquidity and credibility within the region due to such regulatory developments.

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