- ZA Bank has launched a new crypto trading service.
- The service targets retail users.
- The bank partnered with HashKey for the initiative.
ZA Bank announced today the launch of a new service allowing retail users to trade cryptocurrencies directly via its mobile app.
Established in 2017, ZA Bank is Hong Kong’s first and largest digital bank, serving over 800,000 users. The bank launched officially in March 2020, three years before it began offering crypto-to-fiat conversion services for digital asset businesses.
ZA Bank’s Retail Crypto Trading Service
In a press release on November 25, ZA Bank said it was the first Asian bank to offer direct crypto trading services to retail users in the region, underscoring its reputation as a leader in integrating traditional banking and the future of finance.
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According to the statement, Hong Kong residents will need an active account and must complete a risk assessment before buying crypto via the bank’s app. The service has rolled out with support for two crypto assets only, including Bitcoin and Ether.
The service’s debut exposes Hong Kong residents to diverse assets under one platform, simplifying the entire investment experience for both beginner and experienced users. It also allows users to access crypto instantly via a familiar platform, positioning digital assets for mass adoption. A recent survey by the Hong Kong Association of Banks found that 70% of respondents believe that crypto services offered by banking institutions could simplify the onboarding process of new users to the industry or popularize digital asset trading.
ZA Bank’s Alternate Chief Executive, Calvin Ng, lauded the launch and reiterated the company’s commitment to security and compliance.
“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,” Calvin Ng stated.The HashKey team explained in a separate statement that ZA Bank has leveraged its newly launched institutional-grade integrated service, HashKey Pro, to provide reliable and professional virtual asset trading capabilities. These include API trading, block trade services, enterprise-level account structure, and permission management.
HashKey Pro also provides asset insurance services to professional investors and has partnered with over ten brokers and banks in Asia, including Victory Securities.
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