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  • Hong Kong crypto rules attract global banks as AMINA wins new approval

    Hong Kong crypto rules attract global banks as AMINA wins new approval

    Hong Kong crypto rules attract global banks as AMINA wins new approval

    • The licence covers 13 cryptocurrencies, including Bitcoin, Ether, USD,C and Tether.
    • AMINA reported a 233% increase in Hong Kong trading volumes in early 2025.
    • Hong Kong launched new stablecoin rules and approved a Solana ETF this year.

    Hong Kong’s push to build a regulated digital asset market is drawing more interest from global financial institutions, and the latest example is Swiss crypto bank AMINA Bank AG securing approval to expand its services in the city.

    The bank received a Type 1 licence uplift from the Securities and Futures Commission, which makes it the first international bank allowed to offer regulated crypto trading and custody to institutional clients in Hong Kong.

    The move strengthens the city’s position as a regional digital asset hub and highlights rising demand for bank-grade crypto services among professional traders.

    AMINA plans to use the approval to provide institutional users with a regulated route into cryptocurrencies at a time when clients are looking for stronger safeguards and clearer rules.

    Hong Kong’s compliance standards have often limited the number of foreign institutions able to offer these services, which has left a gap in the market for firms with established banking frameworks.

    AMINA’s entry aims to fill that gap while giving clients a regulated platform backed by traditional financial infrastructure.

    AMINA expands in a fast growing market

    The licence uplift allows AMINA’s Hong Kong subsidiary to offer trading and custody for 13 cryptocurrencies.

    These include Bitcoin, Ether, USDC, Tether, and several leading decentralised finance tokens that are widely used across global exchanges.

    The approval creates new opportunities for institutional clients looking for a single regulated venue with access to a curated list of major digital assets.

    AMINA also reported a sharp rise in market activity.

    The bank recorded a 233% increase in trading volume on Hong Kong crypto exchanges in the first half of 2025.

    The increase points to stronger engagement from both institutional and retail segments, which are becoming more active as Hong Kong’s regulatory environment evolves.

    The bank expects the new approval to support a wider product range.

    It plans to expand into private fund management, structured crypto products, derivatives, and tokenised real-world assets.

    These additions would place AMINA among the firms offering institutional clients diversified exposure across multiple types of digital assets.

    Local players face new global competition

    While AMINA is the first international bank to receive this specific licence upgrade, it enters a competitive market.

    Hong Kong already hosts regulated local firms such as Tiger Brokers and HashKey, which serve institutional and retail clients under earlier permissions.

    AMINA’s approval signals that the market is open to more foreign institutions, which could change competitive dynamics for both global and local providers.

    Hong Kong officials have said on multiple occasions that attracting global firms is central to the city’s digital asset strategy.

    AMINA’s arrival may encourage more banks and brokerages abroad to consider similar applications as they assess opportunities in Asia’s regulated crypto markets.

    Policy changes shape Hong Kong’s crypto framework

    AMINA’s approval arrives during a period of rapid policy development in the city.

    Hong Kong introduced its new stablecoin rules in August, creating a formal licensing pathway for issuers.

    Following this, major regional banks such as HSBC and ICBC indicated they were examining licence applications as part of their digital asset plans.

    The city also approved its first Solana exchange-traded fund in late October.

    The approval placed Hong Kong ahead of the US in allowing a regulated Solana ETF and added another product to its growing list of crypto-linked investment options.

    Hong Kong tightened rules around self-custody of digital assets in August.

    The change focused on improving cybersecurity protections and reducing risks tied to individual key management.

    The decision was presented as a safety measure rather than a restriction on user access.

    The combination of new rules and rising institutional interest has created an environment that is now attracting more global firms.

    AMINA’s regulatory progress adds momentum to Hong Kong’s strategy of balancing strong compliance with market expansion.

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  • Deutsche Bank sees parallels between Gold and Bitcoin as central banks boost gold reserves

    Deutsche Bank sees parallels between Gold and Bitcoin as central banks boost gold reserves

    • Deutsche Bank says gold now makes up 24% of central bank reserves, the highest share since the 1990s.
    • Analyst Marion Laboure sees parallels between gold and Bitcoin as safe-haven, low-correlation assets.
    • Deutsche Bank predicts both Bitcoin and gold could join central bank reserves by 2030.

    Global central banks are expanding their gold holdings at a pace not seen in decades, a trend that could have major implications for Bitcoin, according to a new report from Deutsche Bank.

    The bank’s strategists noted that gold’s share of central bank reserves climbed to 24% in the second quarter, its highest level since the 1990s, marking a renewed confidence in the precious metal amid shifting global monetary dynamics.

    Deutsche Bank’s findings highlight how gold’s resurgence and Bitcoin’s momentum in 2025 share several common characteristics, particularly as investors and policymakers seek alternative stores of value in an uncertain economic environment.

    Central Banks’ Gold accumulation reaches multi-decade highs

    The report shows that official demand for gold has doubled compared to the 2011–2021 average, signaling an intensified effort by central banks to diversify away from fiat currencies.

    The strategists described this as a “significant shift in global finance,” echoing patterns seen throughout the 20th century when gold played a dominant role in global reserves.

    Gold’s renewed accumulation coincides with its climb past inflation-adjusted all-time highs.

    Although gold prices have been setting nominal records for several years, Deutsche Bank noted that only recently has the metal surpassed its real-adjusted peak from 1980.

    “It’s only in recent weeks that gold has finally surpassed its real-adjusted all-time highs from around this point 45 years ago,” the bank’s strategists wrote.

    They attributed the decades-long gap between those milestones to a combination of factors, including central bank gold sales, institutional sell-offs, and the rise of the fiat currency era.

    The report also recalled that gold’s formal role as a reserve asset ended in 1979 when the International Monetary Fund (IMF) prohibited member countries from pegging exchange rates to gold — a move that cemented the end of the Bretton Woods system.

    Bitcoin emerges as a modern parallel to Gold

    Deutsche Bank’s macro strategist Marion Laboure explored potential parallels between gold and Bitcoin in a report titled “Gold’s reign, Bitcoin’s rise.”

    She observed that both assets have shown similar long-term performance patterns since their inception and share a reputation for high volatility and periods of underperformance.

    Laboure emphasized that both gold and Bitcoin have a low correlation with traditional financial assets, making them attractive options for diversification.

    These shared traits, she suggested, contribute to their appeal as potential “safe-haven” assets in times of market uncertainty.

    While Laboure acknowledged that Bitcoin’s volatility and lack of backing remain major concerns, she noted that volatility has declined to historic lows.

    Other challenges — including limited adoption, speculative behavior, cybersecurity risks, and liquidity constraints — continue to limit Bitcoin’s suitability as a mainstream reserve asset, but its trajectory is drawing increasing institutional attention.

    Looking ahead: Bitcoin and Gold in central bank reserves by 2030?

    Despite lingering skepticism among policymakers, Laboure predicted that both Bitcoin and gold could feature on central bank balance sheets by 2030.

    The forecast reflects a gradual convergence between traditional and digital stores of value, particularly as institutional adoption of Bitcoin expands and governments explore ways to diversify their reserves.

    Still, she cautioned that Bitcoin’s volatility and perceived risk profile remain key barriers for central banks, whose primary mandate is to preserve capital stability.

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  • Bank of America CEO says banks will embrace crypto with clearer regulations

    Bank of America CEO says banks will embrace crypto with clearer regulations

    • The banking sector could embrace crypto payments if clearer rules are in place
    • Crypto would be another form of payment like Visa and Mastercard, said Brian Moynihan
    • A new crypto task force aims to provide a “clear regulatory framework for crypto assets”

    Bank of America’s CEO said the US banking industry will embrace crypto payments if clearer rules are in place from regulators.

    In an interview with CNBC at the World Economic Forum in Davos, Switzerland, Brian Moynihan said that all banks send money digitally nowadays. He added that if rules come in and crypto payments are made “real,” then “the banking system will come in hard on the transactional side of it.”

    “If you go down the street here and you go in and buy lunch, right, if you can pay with Visa, Mastercard, a debit card, Apple Pay, etc., this would just be another form of payment,” the BoA CEO said.

    To date, US banks have been cautious about offering retail crypto services, instead focusing on providing institutional products such as spot Bitcoin exchange-traded funds (ETFs).

    Changes under a Trump administration?

    Moynihan’s comments come as President Donald Trump started another term in the White House earlier this week.

    During his election campaign, Trump indicated a pro-crypto stance and has since appointed several pro-crypto candidates to various government positions.

    Introducing a new crypto task force “dedicated to developing a comprehensive and clear regulatory framework for crypto assets” could give banks the push they need to enter the space.

    Speaking to CoinJournal, Tom Kiddle, co-founder of Palisade, a French-regulated digital asset custodian backed by Ripple, said: “So far, the country has done little to advance a clear crypto regulatory framework. However, Trump’s nomination of pro-crypto Paul Atkins could mark the dawn of a new era for the sector.”

    When asked about crypto such as Bitcoin as an investment option during the interview, Moynihan refrained from answering, stating that topic was “really a separate question.”

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  • What to expect in crypto ahead of inflation report, as Bitcoin banks eight straight days of gains

    What to expect in crypto ahead of inflation report, as Bitcoin banks eight straight days of gains

    Key Takeaways

    • Bitcoin has increased for eight straight days, now up 9.2% on the year
    • Period of low volatility in the crypto markets paired with softer inflation data has sent prices upward
    • Latest CPI report is out Thursday which will trigger volatility and is vitally important for the market following increased optimism over last month or so
    • Altcoins could move violently on the report, while Bitcoin will likely shake off its $18,000 mark if data comes in below or above expectation

     

    Bitcoin has banked eight straight days of price rises, as the new year has kicked off assiduously for cryptocurrency investors.

    Whereas 2022 brought nothing but pain and freefalling prices, 2023 has thus far been the exact opposite. Bitcoin is up above $18,000 and Ethereum close to $1,400, good for rises of 9.2% and 16.4% respectively year-to-date. Many altcoins are up even more.

    Volatility has reduced in the crypto markets

    The macro climate is pushing prices upward. I wrote a piece analysing the softer climate last week, but optimism has crept into the market that inflation may have peaked and that the possibility of a pivot from the Federal Reserve off its policy of heightened interest rates may be coming soon than previously anticipated.  

    It should be noted that while this is a nice rally, it is hardly a violent breakout. Cryptocurrencies are notoriously volatile and there has actually been an unusual serenity that has washed over markets over the past couple of weeks.

    A quick glance at the chart for the daily returns of Ethereum illustrates that there has been a perceptible fall in volatility.

    Inflation data to be released Thursday

    I write this on Thursday morning, with the all-important US inflation data to be released this afternoon. If we know anything by now, it is that inflation numbers rule the world. If there is anything in the current climate that will produce volatility, it is the CPI report.

    As mentioned above, this relief rally has largely been predicated on softer inflation leading to the hope that the Federal Reserve will pivot off its high-interest-rate policy sooner than anticipated. Another positive inflation number would give further impetus to crypto prices. It is not hard to imagine Bitcoin pushing up towards $20,000 and Ethereum to $1,500 if the number comes in cooler than anticipated.

    On the flip side, of course, is the potential for the number to disappoint investors. Following two straight months of positive inflation, a step back this afternoon would be a body blow for crypto, and it would not be a surprise to see it drop sharply as all the optimism of the last month gets released in an instant.

    The inflation number is expected at 6.5%. This would be a decline from the prior month of 7.1%. Should the number come in at 6.7% or higher, this would represent a major disappointment and crypto will likely freefall. Do not be surprised to see Bitcoin down at $16,500 in this scenario.

    The data will be released at 1:30 PM GMT (8:30 AM ET), and it is the last CPI report before the Federal Reserve’s February 1st interest rate decision.

    Altcoins showing signs of life

    However bad things have been for Bitcoin and Ethereum, the landscape has been a hell of a lot worse for altcoins. Below are the percentage returns in 2022 from the top 10 coins as of 1st January 2022.

    As is standard, these coins are significantly more volatile, and trade like leveraged bets on Bitcoin. It follows that this year, the jumps have also been stronger than the number 1 crypto. 

    Looking at the top 10 coins from Jan 1st this year, some of the returns have been seismic, albeit from a significantly lower base. Remember, a 90% drop followed by a 50% rise is still the same as an 85% drop from the original starting point. A simple math problem that many investors do not understand. Hence, the past couple of weeks have been positive, but this is still a space that has been absolutely ravaged by the bloodbath that was 2022, and it will take a very long time to recover from. 

    Final thoughts

    This is a pivotal week for the markets and it will be a true gauge of how far the battle against inflation has come. Central banks have been adamant that inflation is the number one priority, and the consequent interest rate policy has crushed risk assets over the last year.

    Things are tough in the markets, but with a third straight month of OK inflation data, it could point toward a light at the end of the tunnel. Then again, the world is teetering on the edge of a recession as it is, and if inflation takes a step back, it will be a double whammy of high rates and still-persistent inflation. As always, risk assets will feel the pain. 

    Crypto investors will just have to hope that the pivotal CPI number doesn’t dare tick up beyond 6.5%. 

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