The country’s banking giants, including the Chinese state bank, have started to provide extensive services to cryptocurrency companies operating in Hong Kong.
According to a recent report by the Wall Street Journal (WSJ), who turned the US banking crisis into an opportunity Chinese many banks based in Hong Kong Various services to cryptocurrency companies started to give. The leading institution of the country among these banks Bank of CommunicationsIt was stated that the service scale of popular Chinese-based banks to crypto money companies in Hong Kong is gradually increasing.
In the news, these China-based institutions are willing to pay their employees’ salaries to crypto companies through banks or converting crypto assets into fiat money It was emphasized that it started to offer services at the point of In addition, for banks to crypto companies deposit accounts they were opened.
On the other hand, in mainland China there is still Most cryptocurrency services are banned Some banks do not interact with cryptocurrency companies because risky and they continue to wait for clearer signals to initiate these operations. Nevertheless, while the pressures of the US side on the industry have increased recently, Hong Kong continues to maintain and strengthen its warm attitude towards the crypto money industry.
The special administrative region has 8 crypto money companies this year. Virtual Asset Service Provider (VASP) While it was thought that the license could be granted, China-based insurance companies started to generate new funds in Hong Kong.