2 years ago
The existent property developer’s fintech portion already has a integer banking licence successful Singapore; “We are acceptable to measurement into Hong Kong,” CEO says.
A Greenland Holdings subsidiary is applying for a virtual plus trading licence successful Hong Kong, the South China Morning Post reported. It is the archetypal state-owned Chinese institution to bash so.
Greenland Financial Technology Group CEO James Geng Jing told the Hong Kong paper that a caller institution dedicated to virtual plus trading would beryllium acceptable up and use for licensing successful Hong Kong. Virtual plus trading platforms will request a licence to operate oregon marketplace themselves successful that portion nether Securities and Futures Commission (SFC) rules that spell into effect June 1.
Greenland already holds 2 licenses from the SFC — for securities advising and plus management. It applied for a virtual slope licence successful 2018 but was not selected. Geng said the caller Greenland portion would commercialized cryptocurrencies, nonfungible tokens (NFTs) and products related to c emissions.
Related: China state-backed steadfast launches 2 crypto funds successful Hong Kong
Greenland Financial Technology Group received a integer banking licence successful Singapore successful 2020. Geng told the newspaper:
“After getting acquisition providing integer banking successful Singapore, on with our enlargement successful integer concern successful the mainland successful the past 5 years, we are assured that we are acceptable to measurement into Hong Kong now.”“Having dependable regularisation and capitalist extortion is the cardinal for Hong Kong to make arsenic a virtual plus trading hub,” Geng added.
Greenland Financial Technology Group is simply a wholly-owned subsidiary of Greenland Holdings, a Shanghai-based existent property developer that is 46.4% owned by the Shanghai municipal government. It has branched retired into respective different sectors successful caller years, including fintech.
#BlocklikeNews A portion of Greenland Holdings, Greenland Financial Technology Group, is readying to use for a licence to commercialized virtual assets successful Hong Kong, according to a elder executive, according to South China Morning Post. pic.twitter.com/y01YjSeBkb
— Blocklike (@blocklikecom) May 17, 2023Cryptocurrency exchanges Huobi Global and OKX, some of which person origins successful mainland China, applied for Hong Kong virtual plus trading licenses successful February, according to the newspaper.
Hong Kong is bucking satellite trends by moving guardant with processing its integer plus market. Some experts accidental it stands a accidental of displacing the United States arsenic a halfway of the satellite crypto industry.
Magazine: Hong Kong crypto frenzy, DeFi token surges 550%, NBA China NFTs — Asia Express
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