CMB International Launches Hong Kong Crypto Exchange
CMB International Securities, a subsidiary of China Merchants Bank, has launched the first bank-affiliated licensed crypto exchange in Hong Kong for professional traders. Approved in mid-July under the Securities and Futures Commission’s Type 1 and Type 7 virtual asset licenses, this crypto exchange enables 24/7 trading of Bitcoin (BTC), Ethereum (ETH) and Tether (USDT) via a mobile app restricted to Hong Kong. As the first Chinese bank broker to secure a virtual asset license, CMB plans to integrate traditional stock trading with digital assets and fintech services. Hong Kong’s new stablecoin framework raises compliance standards and issues fraud warnings.
Bullish
This development is bullish for Bitcoin and Ethereum as it signals growing regulatory acceptance and institutional support in Hong Kong. In the short term, the new licensed crypto exchange could increase trading volumes and liquidity for BTC and ETH, attracting both professional traders and institutional investors. Over the long term, CMB’s entry as a bank-affiliated broker may promote broader adoption of digital assets, enhance market maturity, and encourage other financial institutions to offer regulated crypto services. While stricter compliance under the stablecoin framework could limit some speculative activity, the overall legitimization of crypto trading is expected to support price stability and sustainable growth.