Crypto Adoption: Central Bank of Portugal Granted First Crypto License to a Bank

The mass crypto adoption continues to explode this year as well. This has been one of the most important goals that the crypto space has set.

It’s been reported that Bison Bank, a Portugal-based financial institution, has received a license from the Portuguese central bank (Banco de Portugal) to operate as a virtual asset service provider (VASP), Banco de Portugal announced Thursday.

CoinDesk noted that Bison Bank will create a special business division, Bison Digital Assets, to operate as a virtual asset exchange, according to Portuguese media outlet Sapo.

“The division is the first entity in Portugal owned by a bank to be authorized by Banco de Portugal to offer custodian and crypto trading services.”

It’s also important to note the fact that Bison Bank provides wealth management, depositary, and investment banking services to individuals and institutional clients, according to its website.

It is owned by a Hong Kong-based Chinese private capital group.

Another issue worth noting is that back in March, Banco do Portugal granted the first full all-categories VASP license to Utrust, a Portugal-based on-chain crypto payments firm.

Crypto adoption continues and as you can see there are more and more moves that are taking place in the crypto space that support all this.

Check out more details about the crypto adoption in Portgual in the original article.

During a new interview, the co-founder of the world’s largest crypto exchange platform says that lawmakers across the globe are increasingly being drawn to the crypto industry in 2022.

This is reportedly a potential sign of upcoming adoption.

“I think in 2022, we are now seeing regulators want to attract [to] this industry now. So I think that’s one of the most fundamental things we see. Multiple countries, like [the] US, issued executive orders, they want to do their [own] stablecoin.”