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.
According to Portuguese media outlet Sapo, Bison Bank will create a unique business division, Bison Digital Assets, to operate as a virtual asset exchange.
The division is the first entity in Portugal owned by a bank authorized by Banco de Portugal to offer custodian and crypto trading services.
According to its website, Bison Bank provides wealth management, depositary, and investment banking services to individuals and institutional clients. It is owned by a Hong Kong-based Chinese private capital group.
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In March, Banco do Portugal granted the first full all-categories VASP license to Utrust, a Portugal-based on-chain crypto payments firm.
In June, it licensed two cryptocurrency exchanges, Criptoloja and Minded The Coin, to operate as VASPs. The bank also granted a crypto exchange license to Luso Digital Assets.
- Yahoo Finance