Swiss crypto bank AMINA Bank AG receives regulatory approval in Hong Kong to offer crypto trading and custody services to institutional clients. The bank is the first international bank to receive such permission, targeting a gap in the Hong Kong institutional crypto market. The license allows trading of 13 cryptocurrencies.

AMINA reported a 233% increase in trading volume on Hong Kong crypto exchanges. The bank’s head in Hong Kong, Michael Benz, noted that the license would enable expansion into private fund management and tokenized assets. Hong Kong aims to attract international crypto firms with its favorable regulations, positioning itself as a global crypto hub.

Hong Kong rolled out stablecoin rules in August, attracting interest from major banks like HSBC and ICBC. The region also approved its first Solana exchange-traded fund ahead of the US. While tightening rules on self-custodying crypto, Hong Kong’s focus is on reducing cybersecurity risks. The move aims to balance security with user freedom.

Read more at Cointelegraph: AMINA Receives License to Offer Crypto Services in Hong Kong