The largest virtual bank in Hong Kong, ZA Bank, recently introduced a new offering that enables retail users to purchase and sell Bitcoin and Ethereum using traditional currency. In order to utilize this service, residents of Hong Kong must have an account with the bank and undergo a risk assessment, which is accessible through the bank’s app.
This service currently only supports the purchase of Ether and Bitcoin, with no mention of other cryptocurrencies. According to Calvin Ng, the alternate chief executive of ZA Bank, the bank partnered with the cryptocurrency exchange HashKey to ensure regulatory compliance and bridge the gap between traditional finance and crypto.
Livio Weng, CEO of HashKey Exchange, expressed their commitment to work closely with ZA Bank in advancing the Web3 ecosystem and offering diverse financial services to their users. In October, ZA Bank initiated a sandbox trial for their virtual asset trading service.
