ZA Bank, Hong Kong’s leading virtual bank, has launched a new service enabling retail customers to trade Bitcoin (BTC) and Ethereum (ETH) directly with fiat currencies. To access the service, users must hold a ZA Bank account and complete a mandatory risk assessment.
Partnership with HashKey for Compliance
The initiative, announced on Nov. 25, is a collaboration with licensed cryptocurrency exchange HashKey. ZA Bank’s alternate CEO, Calvin Ng, highlighted the partnership’s role in aligning the service with Hong Kong’s regulatory standards. “The rise of cryptocurrency presents investors with more diverse asset allocation opportunities,” said Ng.
Focus on Web3 and Financial Integration
HashKey CEO Livio Weng emphasised the exchange’s commitment to advancing the Web3 ecosystem in Hong Kong. The collaboration aims to merge traditional banking with cryptocurrency services, offering users a seamless financial experience.
Hong Kong’s Evolving Crypto Landscape
Retail crypto trading became legal in Hong Kong in August 2023. Currently, only three exchanges—OSL, HashKey, and HKVAX—hold licenses from the Securities and Futures Commission (SFC). The regulator is expected to approve more licenses by year-end, boosting the region’s digital asset ecosystem.
ZA Bank, licensed by the Hong Kong Monetary Authority since 2019, has over 800,000 users and is positioned as a leader in digital banking innovation. HashKey, founded in 2018, continues to drive growth in regulated crypto services.
This move underscores Hong Kong’s ambitions to become a global hub for cryptocurrency and digital asset innovation.
