Share this article
China Merchants Bank’s Brokerage Arm Secures Hong Kong Virtual Assets License: Report
CMBI is the first Mainland China broker to get a virtual assets license from Hong Kong’s Securities and Futures Commission.
Jul 16, 2025, 11:32 a.m.
What to know:
- China Merchants Bank's (CMBI) brokerage arm has attained a virtual assets license from Hong Kong's Securities and Futures Commission.
- The license will allow the lender’s brokerage arm to offer crypto asset trading, custody and advisory services in Hong Kong.
China Merchants Bank's (CMBI) brokerage arm has attained a virtual assets license from Hong Kong, becoming the first Mainland China broker to do so, South China Morning Post (SCMP) said.
The license, which was issued on Monday by the Hong Kong’s Securities and Futures Commission, will allow the lender’s brokerage arm to offer crypto asset trading, custody and advisory services, the news outlet reported.
STORY CONTINUES BELOW
However, though the license grants the company access to Hong Kong, CMBI will not be able to conduct crypto business in mainland China, a lawyer told SCMP.
“By securing this license, CMBI gains regulated access to Hong Kong’s dynamic crypto market, yet it must operate within strict boundaries that prevent direct mainland participation, reflecting the delicate balance of innovation and legal constraint,” Joshua Chu, a lawyer and co-chair of the Hong Kong Web3 Association told SCMP.
China banned crypto trading and mining in 2021, and shortly after Hong Kong opened its doors to crypto companies. Hong Kong said it was "ready to engage" with the industry in 2022. In December, it granted licenses to four crypto exchanges, and in May passed a law allowing it to license stablecoin issuers from Aug. 1. Already over 40 firms are preparing for the stablecoin license.
CoinDesk reached out to China Merchants Bank and Hong Kong’s Securities and Futures Commission for a comment.
Mais para você
O que saber:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
Mais para você
State of Crypto: Wrapping Up the Month
Congress continues to make progress on crypto issues but things are moving slowly.
Top Stories
