According to local media, Bison is the first bank to receive a regulatory licence to offer crypto custody and exchange services. Bison Digital Assets will continue to operate as a fully owned subsidiary of Bison Bank and will also be added to the list of virtual asset service providers by Banco de Portugal, making it the country’s fifth licenced crypto exchange.
The aim of Bison Digital Assets
The company was founded to operate under Bison Bank, which is fully owned by a Chinese private equity company based in Hong Kong, and would provide crypto services to high-net-worth customers. With its services now being licenced in the country, more institutional investors are expected to use the business to get access to the cryptocurrency market.
The company’s subsidiary will get various benefits from their countries’ ongoing crypto laws as Portugal is known for both being a crypto-friendly country as well as a crypto tax haven. The Portuguese government has formed a working group of public and commercial institutions, as well as experts, to create a national blockchain strategy for the industry.
