ZA Bank, Hong Kong’s first and largest digital bank, has become the first bank in Asia to offer cryptocurrency trading services directly to retail users.
Through its app, the bank now allows users to trade Bitcoin and Ethereum in Hong Kong dollars (HKD) and U.S. dollars (USD) without the need to switch platforms, simplifying the investment process and solidifying its position as a leader in digital wealth management.
The service launch coincides with a surge in global cryptocurrency demand. The number of crypto users worldwide reached 560 million by mid-2024, a 30% increase from the previous year, while the market capitalization of cryptocurrencies has surpassed $2.3 trillion.
A survey conducted by the Hong Kong Association of Banks revealed that 70% of respondents believe that bank-backed virtual asset services could popularize cryptocurrency trading and make transactions more convenient.
ZA Bank’s new offering taps into this demand by providing retail users with a streamlined and accessible way to invest in digital assets.
ZA Bank emphasizes security and compliance as key priorities. The bank has partnered with HashKey Exchange, a licensed virtual asset trading platform, to meet regulatory standards and deliver bank-grade security for cryptocurrency trading.
This collaboration highlights ZA Bank’s focus on providing secure and fully compliant services, setting a benchmark in Asia’s fintech industry.
In addition to its cryptocurrency trading service, ZA Bank continues to expand its presence in the Web3 ecosystem by integrating traditional and digital financial services.
It is the only bank in Asia offering funds, U.S. stocks, and virtual asset trading on a single platform.
Retail users can begin trading with a low threshold of $70 USD or $600 HKD and benefit from zero commission for the first three months, enhancing accessibility and user appeal.
ZA Bank’s initiative underscores its pioneering role in transforming wealth management and driving innovation in the financial sector.
Business News Asia
