Hong Kong banks began to cooperate with cryptocurrency organizations.

The WSJ reported that local banks in Hong Kong, including a branch of the state bank of China Bank of Communications, began to connect cryptocurrency companies in the form of their clients.

Details about what is happening

As you know, most banks open deposits for companies that directly work with cryptocurrencies. They will be used to carry out routine operations, such as employee benefits. At the same time, individual banks began to work on providing services related to settlements in the crypto trade.

So, the Chinese state bank has started working with WEB-3.0 crypto companies that have been licensed. Another example is related to the HashKey Group. They are going to launch a new crypto exchange to facilitate trading with large tokens. To do this, they are already cooperating with ZA Bank and the Chinese branch of the state bank.

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