Greenland, a Chinese state-owned real estate developer, will apply for a virtual assets trading license in Hong Kong. The application comes as Hong Kong is ramping up regulations.
Chinese state-owned Greenland, a real estate developer, will apply for a virtual assets trading license in Hong Kong, according to reports. Specifically, the fintech unit of Greenland will apply for the license. The Shanghai municipal government owns 46.4% of the company.
This would mark the first state-owned entity to apply for a digital assets license in Hong Kong. Chinese banks have already warmed up to offering services to crypto companies in the region. Speaking about the development, Greenland Financial Technology Group CEO James Geng Jing said,
“We want to expand our digital financial business in Hong Kong as our gateway to the world. As Hong Kong is launching a new regulatory regime for virtual asset trading platforms, it is the perfect timing…
