The Central Bank of Portugal Gave the first Crypto-license to a Bank

The Central Bank of Portugal (Banco de Portugal) for the first time licensed a Virtual Asset Service Provider (VASP) licence to a local banking institution, Bison Bank.

According to the ECO, the company intends to start working as a crypto exchange and custodian, for which it will create a special division of Bison Digital Assets to provide deposit and trading services in the field of digital assets.

The list of crypto assets to be traded by the exchange has not been disclosed at the moment.

Bison Bank, owned by Hong Kong private firm Bison Capital Holding Company Limited, provides deposit and investment banking services to individuals and institutional clients.

Earlier, the Board of Governors of the European Central Bank included an assessment of the effectiveness and security of cryptocurrency wallets and services in a new regulatory framework for the supervision of electronic payments.

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