- ZA Bank, Hong Kong’s largest digital bank, pioneers crypto trading for retail customers, offering Bitcoin and Ethereum access.
- Crypto trading through ZA Bank app streamlines investment by enabling seamless Bitcoin and Ethereum trades in HKD/USD.
- The platform secure and compliant crypto service addresses growing demand, reinforcing its leadership in digital finance innovation.
Hong Kong’s largest digital bank, ZA Bank has announced that they are now allowing cryptocurrency trading for the retail customer. This is the first bank in Asia to do so and this is a significant step towards the development of digital finance. It is now possible to exchange Bitcoin and Ethereum for HKD and USD within the ZA Bank application.
This feature helps in the investment process because one does not have to jump from one platform to another. It also further cements ZA Bank to be among the leading brands in coming up with a unique combination of conventional banking with digital currency services.
Source: Image by ZA Bank
ZA Bank Drives Growth
The use of cryptocurrencies is on the rise in the international market. The crypto user base is projected to rise by 30% to 560 million people by mid-2024. Crypto market capitalization has also seen a surge of nearly 90% to cross the $2.3 trillion mark. Bitcoin has scaled new peaks as investors await new policies from the U.S. Congress that would be positive for cryptocurrencies.
According to the survey conducted by the Hong Kong Association of Banks, there is high demand for crypto trading services. Approximately 69% of the respondents revealed that the backing of banking institutions concerning virtual assets would enhance trading. ZA Bank has responded to this need by providing a secure and compliant channel to the cryptoassets market.
Advancing Digital Banking
ZA Bank’s Alternate Chief Executive, Calvin Ng, emphasized on security. With the surge of cryptocurrency, various possibilities for investment turn into available. He stated:
“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.”
The primary operator in this launch is HashKey Exchange – a licensed virtual asset trading platform. HashKey’s CEO, Livio Weng, said that the partnership is a sign of progress in the world of digital banking in Asia. ZA Bank has become an exemplar of fintech innovation, and its initiative of launching a platform speaks volumes. We are here to advance the Web3 ecosystem, he said.
With the entry of ZA Bank into cryptocurrency trading, it can be said that the bank is leading the market. Its emphasis on security and compliance is most comforting to investors as well as to the regulators. The bank has set an agenda to create new products and services in the market and meet the existing rules and regulation.
