To put an end to all speculations, looks like VBs, many if not all, are set to join HKMA issued Crypto enabled cross boundary money exchange/transfer 'Corridor Network'... Impossible to offer such service without doing due diligence of KYC/AML/FATCA etc etc..
Seems interesting new arrangement removing layers of correspondent/intermediary bank(s) and no need for actual currency conversion as equivalent Cryptos are transferred at spot rate!!!!
For the record - I hate the term "crypto" (my mind associates that with bitcoin etc). Digital tokens - i.e. a packet of random numbers, somehow seems more secure in my mind.
Co-incidentally i was talking with a senior(ish) IT person in SWIFT couple of days ago and they are already feeling the heat/competition so planning their own Block-chain enabled messaging/transfer service, not sure if it is exactly related to this and/or also some other banks are coming up with their own Blockchain enabled transfer solution.. Early days but looks promising on the face of it..