ZA Bank, Hong Kong's largest digital bank, has set a historic milestone as Asia's first bank to offer cryptocurrency trading services to retail users. Through the ZA Bank app, customers can now trade Bitcoin and Ethereum seamlessly using HKD or USD, consolidating traditional banking and crypto investments into a single, streamlined platform. This innovative offering simplifies the user experience, eliminating the need to switch between apps and establishing ZA Bank as a leader in digital wealth management.
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Meeting growing crypto demand with security and compliance
The move responds to the booming global demand for cryptocurrencies. With over 560 million crypto users projected by mid-2024—a 30% increase year-on-year—and market capitalization exceeding $2.3 trillion, the industry is experiencing unprecedented growth. A survey by the Hong Kong Association of Banks reveals that nearly 70% of respondents believe bank-backed crypto services make trading more accessible and convenient.
ZA Bank’s commitment to security and compliance underpins this bold initiative. Partnering with HashKey Exchange, a leading licensed virtual asset platform, ensures adherence to regulatory standards while offering robust, bank-grade security for transactions. Calvin Ng, Alternate Chief Executive of ZA Bank, emphasized their mission to provide diverse, secure asset allocation opportunities in the evolving financial landscape.
Driving innovation in Web3 finance
Livio Weng, CEO of HashKey Exchange, praised the partnership, highlighting their shared leadership in advancing Web3 technologies. Together, they aim to redefine wealth management by integrating digital banking and virtual assets, paving the way for a new era in financial services.
As the only bank in Asia providing funds, U.S. stock trading, and crypto services, ZA Bank is poised to shape the future of finance. The institution is committed to driving deeper integration between traditional finance and the Web3 ecosystem, fostering innovation while maintaining alignment with regulatory standards.
