Catenaa, Sunday, July 20, 2025-CMB International Securities, the brokerage division of China Merchants Bank, has become the first mainland Chinese broker licensed to offer cryptocurrency services in Hong Kong.
The approval was granted Monday by Hong Kong’s Securities and Futures Commission, marking a major milestone in the integration of traditional finance and digital assets in the region.
With the license, CMBI can now legally provide trading, custody, and advisory services for virtual assets, including counsel on investment strategies, compliance, and risk management. The license does not extend to the Chinese mainland, where such activities remain prohibited.
Legal experts, including Hong Kong Web3 Association’s Joshua Chu, said the approval gives CMBI regulated access to Hong Kong’s emerging crypto markets, though it must operate under strict cross-border limitations to prevent capital flight or legal conflicts with Beijing.
The move signals growing interest among mainland financial firms in Hong Kong’s digital asset sector. Under current rules, licensed mainland brokers can open omnibus accounts on Hong Kong’s 11 approved crypto exchanges, allowing access to major cryptocurrencies and stablecoins for consolidated client groups.
Hong Kong is positioning itself as a global crypto hub, backed by regulatory clarity and support from mainland authorities. Its stablecoin ordinance is set to take effect August 1, with the city already processing more than 40 license inquiries.
This development comes as the government deepens its legislative push with a joint public consultation on new digital asset licensing frameworks, set to close by August 29.
