A giant, one of China’s biggest banks, China Merchants Bank, like the godfather in the banking world, making a surprise move.
CMB, through its Hong Kong-based arm, CMB International Securities Limited, just launched a crypto exchange for professional investors.
This ain’t your backyard Bitcoin stand, it’s a high-stakes, 24/7 trading floor for Bitcoin, Ether, and Tether’s USDt, approved by the Hong Kong Securities and Futures Commission.
Licensed Chinese bank
Mainland China is still playing hardball with crypto, keeping it outlawed since 2017. So no fancy digital coin trading in Shenzhen, where CMB calls home.
But Hong Kong? That city’s like the rebellious cousin with its own set of rules under the one country, two systems playbook.
The HKMA has been cracking down on stablecoins with new regulations, ushering in stricter controls and even criminal penalties for unlicensed promotions.
Still, the territory’s rolling out the red carpet for crypto innovation, and CMB just snagged the first-ever crypto license handed to a Chinese bank affiliate in Hong Kong.
Same country, different rules
Think about it like this, you’re at the office, where the boss won’t let you play fantasy football during work hours, but in the break room, your colleagues have a league going full throttle.
That’s Hong Kong compared to mainland China. Same country, different rules.
CMB is betting on Hong Kong’s crypto-friendly vibe to bring traditional stock traders into crypto trading, mixing the old-school and the futuristic.
Hong Kong’s sudden crackdown on stablecoins has shaken up the market, with some companies losing double-digit percentages right after new rules kicked in.
The regulators are serious, implementing custody must-haves and even banning smart contracts in cold wallets, a move that puts a wrench into some industry practices.
Playground
So the big picture? CMB’s Hong Kong exchange signals a new territory, blending the muscle of traditional banking with the speed and innovation of crypto.
It’s a sign that China’s financial giants can’t ignore crypto forever, even if Beijing’s playing hard to get.
For professional investors ready to roll up their sleeves, this might just be the fresh playground where old money meets new money.
Disclosure:This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Kriptoworld.com accepts no liability for any errors in the articles or for any financial loss resulting from incorrect information.
Cryptocurrency and Web3 expert, founder of Kriptoworld
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With years of experience covering the blockchain space, András delivers insightful reporting on DeFi, tokenization, altcoins, and crypto regulations shaping the digital economy.
📅 Published: August 20, 2025 • 🕓 Last updated: August 20, 2025
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