CMB International Securities, a subsidiary of China Merchants Bank, has become the first Chinese banking brokerage firm to enter the cryptocurrency market in Hong Kong by launching a digital asset trading platform.
This is reported by Business • Media
Details of the Cryptocurrency Platform Launch
On August 18, 2025, CMB International Securities officially implemented the feature for trading virtual assets in its mobile application. This is the first initiative of its kind among Chinese banking brokers, complying with Hong Kong’s regulatory requirements. The platform provides access to transactions with Bitcoin (BTC), Ethereum (ETH), and Tether (USDT), and trading is available 24/7.
Only investors who have completed KYC identification procedures and AML compliance checks through an integrated account will be able to use the service.
The launch was made possible by the company obtaining Type 1 (Securities Dealing) and Type 7 (Automated Trading Services) licenses from the Hong Kong Securities and Futures Commission (SFC) in July 2024. The platform operates within the laws of the Securities and Futures Ordinance and the Stablecoin Ordinance, which came into effect on August 1, 2025.
Security, Partnership, and Strategic Significance
To meet the technical requirements of the regulator, CMB International has implemented multi-layered security mechanisms, including the use of cold wallets, real-time risk monitoring, and external audits. The technological partner is OKX Planet, which provides the trading engine and liquidity for stable operation even under high loads.
Analysts believe that the emergence of such a service will facilitate the integration of traditional financial institutions into the digital asset market and support the fintech strategy of the Hong Kong government. In February 2025, the SFC presented the ASPI-Re strategy aimed at creating a “safe and innovative ecosystem for virtual assets.”
In the future, the launch by CMB International may serve as a catalyst for other Chinese brokers: Guotai Junan International and Tianfeng International have already applied for license expansions to launch their own cryptocurrency services.
“We encourage traditional financial institutions to participate in the virtual asset market in accordance with regulations. This will not only enhance Hong Kong’s competitiveness as an international financial center but also contribute to China’s role in global digital finance governance.”
Despite the legalization of cryptocurrency activities in Hong Kong, lawyers emphasize that for residents of mainland China, cryptocurrency transactions remain prohibited under local laws, and they must strictly adhere to local restrictions.
In May 2025, financial giant HSBC implemented the first blockchain settlement system in Hong Kong, and in July, the Monetary Authority of Hong Kong introduced a new regulatory regime for issuers and holders of stablecoins, effective from August 1.