November 8, 2019 Tencent claims to have obtained a license for virtual banking in Hong Kong.

Keynote speaker Weige Cai, general manager for blockchain at Tencent, a Chinese multinational telecom and technologies giant, announced at the Wuzhen blockchain conference today that “Tencent Virtual Bank has obtained a Hong Kong license and is currently preparing a blockchain virtual banking team.” Hong Kong’s Securities and Futures Commission published a framework for regulating cryptocurrency exchanges earlier this week. Tencent made headlines earlier in October when the company was selected to lead drafting efforts for international blockchain-based invoice standards.