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Chinese tech large Tencent granted Hong Kong license to open ‘virtual bank’

 

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    Crypto

    Chinese tech large Tencent granted Hong Kong license to open ‘virtual bank’

    Chinese tech large Tencent has acquired a license from the Hong Kong authority to open a “virtual bank,” in keeping with the agency’s blockchain enterprise supervisor Weige Cai

    In a presentation on the World Blockchain Summit Wuzhen, Cai revealed that the corporate is making ready to type a staff devoted to constructing the financial institution. However, the main points of the financial institution are unclear. 

    Earlier this week, the Hong Kong Securities and Futures Commission (SFC) issued guidelines for licensing cryptocurrency exchanges. Cai stated that the Hong Kong authorities’s oversight of cryptocurrency buying and selling is nice information to all the trade. 

    Tencent, the agency behind one of the in style Chinese messaging apps WeChat, has been growing its personal blockchain for years. Its options are already deployed throughout numerous companies, together with a partnership with Shenzhen Municipal Taxation Bureau to register invoices.  

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