A Greenland Holdings subsidiary is applying for a virtual asset trading license in Hong Kong, the South China Morning Post reported. It is the first state-owned Chinese company to do so.
Greenland Financial Technology Group CEO James Geng Jing told the Hong Kong newspaper that a new company dedicated to virtual asset trading would be set up and apply for licensing in Hong Kong. Virtual asset trading platforms will need a license to operate or market themselves in that region under Securities and Futures Commission (SFC) rules that go into effect June 1.