[2022-07-26] Bison Bank was approved to launch virtual asset custodying and trading services in Portugal

Source: Permanent Secretariat to the Forum for Economic and Trade Co-operation between China and Portuguese-speaking Countries (Macao)

The Spanish and Portuguese law firm Cuatrecasas provided legal advice to the subsidiary of Bison Bank, Bison Digital Assets, in obtaining the registration for activities with virtual assets with the Bank of Portugal, which took more than nine months. The registration acquired includes transfer and safekeeping services for the same assets, in addition to the provision of virtual assets and fiat currency exchange activities in Portugal.

Bison Bank, the former investment bank of Banif, is headquartered in Lisbon and was purchased by the Chinese group Bison in 2018.

Bison Bank is the first banking organization in Portugal to seek registration for activities involving virtual assets through a branch of the bank. In line with market trends and demand in the new segment, Bison Bank will start offering its Customers and Partners a new and broader set of products and services that match their global needs related to financial and virtual assets, through a regulated and secure platform, and ready for the future.