ZA Bank in Hong Kong Introduces Trading Services for Bitcoin and Ethereum
From 25th November, the new feature offered demands that clients have an active ZA Bank account and undergo a financial risk evaluation through the bank’s mobile application.
As the foremost online bank in Hong Kong, ZA Bank has unveiled a capability that lets everyday customers purchase and sell Bitcoin and Ethereum in exchange for traditional currency. Announced on November 25th, this innovation stipulates that clients need to be ZA Bank account holders and pass a risk assessment before they can use this service through the banking app.
This new facility, established in partnership with the HashKey cryptocurrency trading platform, strives to meet the regulatory expectations of Hong Kong while integrating conventional financial services with the burgeoning cryptocurrency sector. Livio Weng, the CEO of HashKey, highlighted the collaboration’s contribution to the expansion of the Web3 framework and the advancement of financial products for consumers.
August 2023 marked the commencement of retail cryptocurrency trading in Hong Kong, facilitated by three authorized exchanges under the aegis of the Securities and Futures Commission. The regulatory body has intimated that it might issue additional trading licenses by year-end, which could signify a bullish trend in the local virtual assets market.
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