Hong Kong’s ZA Bank enables retail cryptocurrency trading directly within its app.
ZA Bank, a licensed digital bank in Hong Kong, has enabled its users to trade Bitcoin and Ethereum either in HKD or USD, within a single platform with traditional banking.
Consolidating traditional financial services and cryptocurrency investment simplifies customer access to digital assets, reinforcing the bank’s role in digital wealth management and future-oriented finance.
The rise of cryptocurrency presents investors with more diverse asset allocation opportunities. As a bank, we prioritise security and compliance, which is why we’ve partnered with HashKey, a global-leading licensed virtual asset exchange, to meet regulatory standards and deliver bank-grade security in virtual assets trading – our key competitive advantage in the Asian market.”
Calvin Ng, Alternate Chief Executive of ZA Bank
Global crypto adoption is accelerating, with users projected to reach 560 million by mid-2024, and market capitalisation surpassing $2.3 trillion, driven by Bitcoin‘s record highs and favourable policies.
According to the press release, a recent Hong Kong survey found that 70% of respondents support banks offering virtual asset services to boost convenience and adoption. Hong Kong has emerged as a crypto hub in the Greater China region, utilising its distinct legal and regulatory framework with more flexibility to foster financial innovation.
Eastern Asia is the sixth largest cryptocurrency economy in the world this year, accounting for 8.9% of global crypto value received between July 2023 and June 2024. South Korea and Hong Kong stand out as the most crypto-active countries in the region, with institutions driving increased adoption.
Therefore, ZA Bank responded to the public demand by launching cryptocurrency trading services. Today, the financial institution offers investors a combination of traditional funds, US stocks, and virtual asset trading services to diversify their portfolios.
ZA Bank is committed to driving Web3 innovation in compliance with regulatory frameworks and market needs, bridging finance and technology.
Nina Bobro
Nina is passionate about financial technologies and environmental issues, reporting on the industry news and the most exciting projects that build their offerings around the intersection of fintech and sustainability.
