has opened an opportunity for not just crypto companies but many state-affiliated banks in China as well. The Chinese banks have shown interest in building partnerships and onboarding regulated crypto companies in Hong Kong, despite a blanket bank on crypto-related activities in mainland China.
The Hong Kong arm of Bank of Communications, a state-owned major bank in China, is collaborating with several cryptocurrency businesses registered in the city and is in talks to open accounts for more regulated businesses, according to aApart from the Bank of Communications, ZA Bank, Hong Kong’s largest virtual bank, controlled by Chinese internet insurer ZhongAn Online P&C Insurance Co., will together act as the settlement bank for the crypto companies.
in opening or expanding their business in the city. The government’s crypto push has attracted some surprising allies in the form of Chinese banks and funds.
This is just an amazing fact!
One of the few L1 blockchains (if not THE only one) to still be represented in China is $CCD - ConcordiumNet - Seldom a bad idea to build for the future. One fine day when China decides to join in again….🚀🚀🚀🚀
This is very unexpected news!
I wouldn't trust Hong Kong because they will try to centralize the whole ecosystem
Glad they are having a truce thru this
This is great!
The Chinese banks have shown interest in building partnerships and onboarding regulated crypto companies in Hong Kong, despite a blanket bank on crypto-related activities in mainland China.
Not risky at all..
That's interesting! Have you heard of MemeGold? It's a new cryptocurrency that could potentially benefit from Hong Kong's push towards crypto adoption? MemeGoldToken
Crypto is bridge to peace
Here is China and Hong Kong embracing crypto and there is the US trying to choke it
China will embrace Crypto I think they just seeking clarity & creating clear structure & format of their CBDC once done they will either ban or allow coexist depend how designed. So they still leaving door open for now I think
eos is going to be a huge player in China, watch this space
$cfx $rsr 🔥🔥🤫