Hong Kong's ambition to solidify its position as a global financial hub for virtual assets has received a significant endorsement with CMB International's pioneering entry into the cryptocurrency trading arena. A subsidiary of China Merchants Bank, CMB International Securities has become the first Chinese bank-backed brokerage to offer digital asset trading services within the city's robust regulatory framework, marking a pivotal moment for traditional finance's integration with the evolving digital economy.
- CMB International Securities is the first Chinese bank-backed brokerage to offer digital asset trading in Hong Kong.
- The new service officially launched on August 18, 2025, via its mobile application.
- It provides 24/7 access to Bitcoin (BTC), Ethereum (ETH), and Tether (USDT).
- Investors are required to complete stringent Know Your Customer (KYC) and Anti-Money Laundering (AML) verification processes.
- CMBI obtained expanded Type 1 and Type 7 licenses from the Hong Kong SFC in July 2024.
- The platform employs multi-layered security mechanisms, including cold storage, and partners with OKX Planet for liquidity.
CMB International's Pioneering Digital Asset Service
On August 18, 2025, CMB International Securities officially launched virtual asset trading capabilities through its mobile application. The new service provides 24/7 access to Bitcoin (BTC), Ethereum (ETH), and Tether (USDT) for investors who successfully complete stringent Know Your Customer (KYC) and Anti-Money Laundering (AML) verification processes via an integrated account.
Regulatory Framework and Technical Robustness
This strategic expansion follows CMB International's acquisition of expanded 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 under the comprehensive Securities and Futures Ordinance and adheres to the new Stablecoin Ordinance, which became effective August 1, 2025. To meet regulatory technical requirements, the system employs multi-layered security mechanisms, including cold storage solutions, real-time risk monitoring, and independent external audits. Furthermore, a technological partnership with OKX Planet provides the necessary trading engine and liquidity to ensure stability under high transaction volumes.
Strategic Implications for Hong Kong and Beyond
Analysts view CMB International's launch as strategically vital, accelerating the convergence of traditional financial institutions with the digital asset market. This move aligns with the Hong Kong government's proactive strategy, exemplified by the SFC's ASPI-Re initiative introduced in February 2025, which aims to foster a secure and innovative virtual asset ecosystem. The development could trigger a broader trend among Chinese brokerages, with the SFC reporting that firms like Guotai Junan International and Tianfeng International have already applied for license expansions to offer similar services. Paul Chan, Hong Kong's Secretary for Financial Services and the Treasury, underscored this policy, stating, "We encourage traditional financial institutions to participate in the virtual asset market in compliance with regulations. This will not only enhance Hong Kong's competitiveness as an international financial center but also serve as a Chinese contribution to global digital finance governance."
Navigating the Evolving Digital Finance Landscape
However, legal experts caution that despite the legalization in Hong Kong, cryptocurrency operations remain prohibited for residents of mainland China under current legislation, who must strictly adhere to local restrictions. This significant step by CMB International follows other notable developments in Hong Kong's financial landscape, including HSBC's launch of a blockchain-based settlement system in May and the Hong Kong Monetary Authority establishing a new regulatory regime for stablecoin issuers and holders, effective August 1.
