NEW YORK — The bank that is the first to accept Bitcoin is launching in China, the largest and fastest-growing of the world’s major crypto-currency markets.
The Hong Kong-based cryptocurrency bank, CoinLab, is the latest to enter the Chinese market as China gears up for a massive economic boom that could bring in millions of jobs.
CoinLab will open its first branch in Hong Kong on Nov. 23, just one day after the launch of a Hong Kong branch of bitcoin exchange Mt.
Gox in Tokyo.
China has been the world leader in the development and use of crypto-currencies, with the country seeing over $1 trillion in bitcoin and Ethereum in 2014 alone.
More than 20,000 merchants and online businesses already accept crypto-tokens, according to the World Economic Forum.
CoinLab will offer a range of services in Hong