ZA Bank, a Hong Kong-based digital bank, has launched crypto trading services for retail customers.
Users can now seamlessly buy and sell Bitcoin and Ethereum, currently the only cryptocurrencies supported, using Hong Kong dollars or US dollars directly within the ZA Bank app.
This move comes amidst a global surge in crypto interest, with the market capitalisation exceeding US$2.3 trillion.
ZA Bank aims to simplify crypto investments by integrating it into traditional banking services, allowing users to start trading from US$ 70 (HKD 600) and with 0% commission for the first 3 months.
The bank partnered with licensed virtual asset exchange HashKey to ensure security and regulatory compliance.
ZA Bank is currently the only bank in Asia offering funds, US stocks, and virtual asset trading services all within a single platform.
Calvin Ng, Alternate Chief Executive of ZA Bank, said,
“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.”
Livio Weng, CEO of HashKey Exchange, said,
“ZA Bank, as the first bank in Asia to offer such service, has demonstrated its strong leadership and a pioneering spirit in fintech integration. Our collaboration goes beyond technical synergies; it also reflects our shared commitment to upholding the highest regulatory standards.
Looking ahead, HashKey Exchange will continue to work closely with ZA Bank to drive the development of the Web3 ecosystem, while delivering more diversified financial services to our users. Together, we aim to usher in a new era of wealth management.”
Featured image credit: Edited from Freepik