Chinese state-owned banks are supporting crypto firms flocking to Hong Kong, surprising many. Binance CEO, Changpeng Zhao, shows his support.
- The CEO of Binance has shown support for Chinese state-owned banks offering banking services to crypto firms in Hong Kong.
- The move by Chinese banks signals a potential shift in the country’s stance towards cryptocurrencies.
- This comes amid the Mainland’s strict prohibition of crypto assets.
Changpeng Zhao, the CEO of the behemoth cryptocurrency exchange, Binance, has shown his support for a move made by Chinese state-owned banks. As crypto firms flock to Hong Kong, hoping to bounce back from a tumultuous period, they are discovering an unexpected ally in Chinese banks, according to a Straits Times report.
The cryptocurrency exchange champion Zhao has said that when one door shuts, another one opens, a statement that has garnered attention in the cryptocurrency community on Twitter.