China Merchants Bank Launches Hong Kong Crypto Exchange

August 18, 2025 — CMB International Securities, a subsidiary of China Merchants Bank, has officially launched a 24/7 cryptocurrency trading platform in Hong Kong, marking a milestone as the first Chinese bank-affiliated securities firm to secure approval for virtual asset services in the region.

CMB Brings Traditional Banking Into Crypto

CMB International Securities confirmed via a WeChat announcement that its trading desk will integrate digital asset services with traditional financial products. This integration will allow institutional investors to manage both securities and cryptocurrencies under one account, streamlining investment options.

The platform includes cold wallet storage, continuous risk monitoring, and independent audits, ensuring compliance with Hong Kong’s strict new Stablecoin Ordinance that came into effect on August 1.

Why Hong Kong, Not Shenzhen?

While Hong Kong is positioning itself as a global digital asset hub, mainland China has maintained a hardline stance against crypto trading since 2017. That ban remains in place today, effectively prohibiting exchanges or token promotions on the mainland.

Hong Kong, however, benefits from the “one country, two systems” framework, giving it flexibility to pursue progressive crypto regulations. Recent initiatives, such as the Stablecoin Ordinance and ASPIRe five-pillar digital asset strategy have created a structured pathway for banks and fintech firms to enter the space.

Memecoin & Tokenization Potential

CMB International’s expansion isn’t limited to trading. Reports suggest the firm is considering tokenized investment products, including a Solana-based money market fund (CMBMINT). If realized, it could become one of the first large-scale tokenization projects backed by a Chinese financial institution.

Market Outlook

Hong Kong’s crypto sector has accelerated in 2025. Over 40 firms have already applied for stablecoin licenses, and major players like Standard Chartered and Ant Group are preparing market entries.

CMB’s launch strengthens Hong Kong’s status as a digital asset hub while providing a bridge for traditional banking into blockchain finance.

Meanwhile, mainland regulators continue to ban stablecoin-related events and crypto promotions a stark contrast to Hong Kong’s pro-market approach.