Hong Kong virtual bank enables Bitcoin and Ether trading
ZA Bank, Hong Kong's largest digital bank, has launched a retail crypto trading service, allowing users to trade Bitcoin (CRYPTO:BTC) and Ethereum (CRYPTO:ETH) directly using fiat currency.
According to a statement on November 25, the service is accessible via the bank's app and is limited to residents of Hong Kong.
Users must hold an account with ZA Bank and complete a risk assessment to access the feature.
The service focuses exclusively on Bitcoin and Ether, with no other cryptocurrencies available at this stage.
ZA Bank partnered with HashKey Exchange to ensure compliance with local regulatory standards.
Calvin Ng, alternate chief executive of ZA Bank, highlighted the importance of the initiative in integrating traditional banking with cryptocurrency.
“The rise of cryptocurrency presents investors with more diverse asset allocation opportunities,” Ng said.
HashKey Exchange's CEO, Livio Weng, affirmed the collaboration, stating the partnership aims to support the Web3 ecosystem while providing diversified financial services to users.
Retail crypto trading in Hong Kong commenced in August 2023 under the regulatory framework of the Securities Futures Commission (SFC).
Only three exchanges currently hold licenses in the region: OSL, HashKey, and Hong Kong Virtual Asset Exchange (HKVAX).
ZA Bank, licensed by the Hong Kong Monetary Authority in 2019, has over 800,000 users and is considered a pioneer in digital banking within the region.
The bank tested its crypto trading service through a sandbox trial in October 2024, paving the way for its official launch.
The SFC has indicated that additional licenses for crypto exchanges may be approved by the end of the year, signaling further growth in Hong Kong's digital asset sector.
HashKey Exchange, established in 2018, continues to expand its role in fostering cryptocurrency adoption within regulated frameworks.
At the time of reporting, the Bitcoin price was $98,269.11, and the Ethereum price was $3,384.22.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
New spot margin trading pair — HOLO/USDT!
FUN drops by 32.34% within 24 hours as it faces a steep short-term downturn
- FUN plunged 32.34% in 24 hours to $0.008938, marking a 541.8% monthly loss amid prolonged bearish trends. - Technical breakdowns, elevated selling pressure, and forced liquidations highlight deteriorating market sentiment and risk-off behavior. - Analysts identify key support below $0.0080 as critical, with bearish momentum confirmed by RSI (<30) and MACD indicators. - A trend-following backtest strategy proposes short positions based on technical signals to capitalize on extended downward trajectories.
OPEN has dropped by 189.51% within 24 hours during a significant market pullback
- OPEN's price plummeted 189.51% in 24 hours to $0.8907, marking its largest intraday decline in history. - The token fell 3793.63% over 7 days, matching identical monthly and yearly declines, signaling severe bearish momentum. - Technical analysts cite broken support levels and lack of bullish catalysts as key drivers of the sustained sell-off. - Absence of stabilizing volume or reversal patterns leaves the market vulnerable to further downward pressure.
New spot margin trading pair — LINEA/USDT!
Trending news
MoreCrypto prices
More
