CMB International Securities, a wholly owned subsidiary of China Merchants Bank, has launched cryptocurrency trading services on its mobile app, becoming the first Chinese state-owned brokerage to do so under Hong Kong’s regulatory framework.
The platform, which went live on August 18, supports trading in Bitcoin (BTC), Ethereum (ETH), and Tether (USDT) on a 24/7 basis. Eligible investors must complete know-your-customer (KYC) and anti-money laundering (AML) checks through a unified account system before accessing services.
CMB International Securities, a subsidiary of China Merchants Bank, the world’s eighth-largest bank, announced the official launch of virtual asset trading in Hong Kong, supporting 24/7 trading of BTC, ETH, and USDT.https://t.co/xfFLBh1ie3
— Wu Blockchain (@WuBlockchain) August 18, 2025
The rollout follows CMB International’s license upgrade in July 2024, when the Hong Kong Securities and Futures Commission (SFC) approved its Type 1 (securities trading) and Type 7 (automated trading services) licenses for virtual assets. The service also aligns with Hong Kong’s new Stablecoin Ordinance, which came into effect on August 1.
CMB International has integrated enhanced safeguards including cold-wallet storage, real-time risk monitoring, and third-party audits. The platform’s infrastructure is supported by a technical partnership with OKX, which provides liquidity and trading engine support.
The launch carries strategic weight for both the firm and Hong Kong’s financial ambitions. With over RMB 130 billion ($18 billion) in assets under management, CMB International is extending its product range to include crypto, aiming to attract high-net-worth and institutional investors seeking diversified portfolios.
The move also supports Hong Kong’s drive to position itself as an international hub for digital assets. Authorities have licensed more than 40 trading platforms, including HashKey and OSL, but CMB International distinguishes itself through its banking pedigree and ability to link crypto with equities and bonds in a single account.
The move underscores Hong Kong’s ambition to cement its role as a global virtual asset hub. Regulators have tightened custody standards for licensed platforms in response to overseas exchange breaches, aiming to safeguard client funds and strengthen investor confidence in the sector. According to the SFC, common risks include compromised third-party wallet solutions, insufficient transaction verification processes, and inadequate access controls over devices used to approve crypto transactions.
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