ZA Bank, Hong Kong’s first and largest digital bank, has achieved another breakthrough as Asia’s first bank to offer cryptocurrency trading services directly to retail users.

Through the ZA Bank app, users can now seamlessly trade top cryptocurrencies in HK dollar and US dollar (this platform currently supports trading services exclusively for Bitcoin and Ethereum) — all within a single platform, with no need to switch between apps or platforms, simplifying the entire investment process.

With this launch, ZA Bank cements its leadership in digital wealth management by merging traditional banking with the future of finance.

Global crypto demand is skyrocketing, with users reaching 560 million by mid-2024 — a 30 percent year-on-year increase. Crypto market capitalisation has surged nearly 90 percent, surpassing $2.3 trillion. Bitcoin hit record highs following the US presidential election, driven by expectations of crypto-friendly policies from the new Congress.

Meanwhile, a recent survey by the Hong Kong Association of Banks reveals that nearly 70 percent of respondents believe that if banks offer virtual asset trading services, it would make buying and selling virtual assets more convenient or could help popularise cryptocurrency trading.

In response to this growing market demand, ZA Bank has launched its cryptocurrency trading service, enabling users to take advantage of new investment opportunities.

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, “We are privileged to partner with ZA Bank in advancing innovation in digital banking services across Asia. As Hong Kong’s largest licensed virtual asset exchange, HashKey Exchange is dedicated to providing users with fully compliant and secure digital asset trading solutions.”

“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,” he said.

“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,” he added.

As the only bank in Asia offering funds, US stocks, and virtual asset trading services, ZA Bank is committed to advancing the Web3 ecosystem in alignment with regulatory policies and market demand, while fostering deeper integration between finance and technology. The bank will continue to push boundaries, challenge the traditional finance (TradFi) landscape, and shape the future landscape of wealth management.

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