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The central bank of Portugal (Banco de Portugal) has granted the country’s first crypto license to a bank on Thursday.
Portugal-based Bison Bank has received the green light to operate as a virtual asset service provider (VASP), Banco de Portugal announced on Thursday.
Bison Bank is owned by a Hong Kong-based Chinese private capital group and offers wealth management, depositary and investment banking services to individuals and institutional clients.
Following its Portugal licence, the bank has set up a special business unit, Bison Digital Assets, to operate as a virtual asset exchange. Bison Digital Assets is now first entity in Portugal owned by a bank that is authorized to offer custodian and crypto trading services.
In June 2021, crypto exchanges Criptoloja and Mind The Coin were the first exchanges that received licences to operate as VASPs in the South European country.