Chinese Bank Opens Cryptocurrency Access in Hong Kong for the First Time
Date: 2025-08-19 Author: Gabriel Deangelo Categories: BUSINESS
CMB International Securities, a division of China Merchants Bank (CMB), has officially announced the launch of a crypto service in Hong Kong. Now, users of its mobile app can buy and sell cryptocurrencies along with traditional investment instruments such as stocks and bonds.
The app offers 24/7 trading with Bitcoin (BTC), Ethereum (ETH), and Tether (USDT). However, only clients who have completed the mandatory KYC procedure will be able to use the new feature. CMB International has partnered with the OKX crypto exchange, which provides the technological infrastructure and maintains the necessary liquidity for trading.
China Merchants Bank occupies a significant place in the global banking system: according to the results of 2024, it was in 10th place in the ranking of the largest banks by capital according to The Banker. In the same year, the volume of assets under management of CMB International exceeded 130 billion yuan (about $18.1 billion), while the company notes a stable growth of about 15% annually.
According to the broker's representatives, the integration of cryptocurrencies into the service will allow wealthy clients to manage their assets more efficiently, combining traditional and new investment instruments. The company also emphasized that this step makes CMB International a kind of "pioneer" that can pave the way for other Chinese banks and financial institutions to enter the crypto market. Analysts expect that several large companies from China will introduce similar services over the next year.
At the same time, the rules for clients remain strict: residents of mainland China are still denied access to crypto trading. CMB International reminded investors of the need to take into account all local regulatory restrictions in order to avoid violating the law.
Interestingly, the launch of the new service coincided with the increased attention of the Chinese authorities to the crypto industry. Earlier in August, China's Ministry of State Security said the practice of collecting biometric data, specifically scanning users' irises in exchange for cryptocurrency, could pose a threat to national security.
The launch of CMB International in Hong Kong thus reflects a growing trend of gradual convergence between the traditional banking sector and the crypto industry, albeit with strict restrictions for investors from mainland China.
