Amina (Hong Kong) Limited has had its Type 1 license uplifted by the Securities and Futures Commission. The license will enable the company to launch full crypto spot trading and custody solutions to professional investors in Hong Kong. The new regulatory positioning sees the bank as one of the few institutions that can operate using a stringent digital asset framework in the city.
The subsidiary in Hong Kong is a part of Amina Bank AG, a Swiss bank. The license will provide the group with a chance to expand its global banking standards to the local digital asset market. The bank added that demand for regulated services is also growing as more institutional clients are joining the crypto industry.
As a result of license uplift, Amina HK will be able to provide 24-hour spot trading. It also has the capability of protecting digital resources and facilitating crypto withdrawals and deposits to whitelisted addresses. These services are governed by the SFC rules of professional investors who comprise institutions, corporates, and high-net-worth individuals.
Amina explained that the widened approval is a reaction to a hole in the institutional crypto environment in Hong Kong. Numerous professional investors and family offices have had difficulties getting international-grade crypto products with local onboarding. The bank intends to sew up the gap by providing a regulated platform that offers operational standards similar to those provided in conventional finance.
Michael Benz, Head of Amina Hong Kong and APAC, added that the regulatory milestone puts the bank in strong territory in the region. He pointed out that Hong Kong has one of the most sophisticated digital asset governance systems in Asia. He also stated that institutional clients want to have steady, reliable access to crypto markets as they develop their strategies.
The bank intends to expand the product range once it has obtained the approval. It looks forward to introducing privatized fund management, structured products, tokenized assets, and derivatives within a regulated framework. According to the group, the offerings will complement its objective of aiding institutional adoption of crypto in Hong Kong.
According to Amina, the crypto market has entered a more mature stage. Professional investors are now willing to seek regulated service providers who are capable of withstanding high standards of compliance.