ZA Bank, a leading virtual bank in Hong Kong has launched crypto retail services for users. The financial institution made the disclosure on Monday indicating that users can now trade cryptocurrencies directly from the bank app.Â
In the statement, ZA Bank added that it collaborated with Haskay Exchange to launch the initiative. Also, ZA Bank revealed that the newly added option is available for all customers with an active account with the bank. However, before accessing the in-app crypto trading feature, the bank disclosed that users must fulfill certain regulatory criteria.
According to the announcement, the bank indicated that users can only trade Bitcoin and Ethereum in HKD and USD for now. Meanwhile, the launching of the new feature will aid ZA Bank in becoming a leader in virtual wealth management by seamlessly combining traditional finance with the future of finance.
ZA Bank discussed how the global demand for cryptocurrency has skyrocketed with more than 560 million users in mid-2024. The financial institution stated that a survey by the Hong Kong Association of Banks illustrated how the offering of crypto services by banks will help drive the adoption of virtual assets.
The bank explained that the increasing demand and influx of investors into the virtual assets sector initiated the launching of the new feature. Additionally, ZA Bank stated that the new crypto trading option will contribute to the adoption of virtual assets.
How Haskey Supported ZA Bank to Launch the Innovation
The Alternate Chief Executive of ZA Bank, Calvin Ng explained that the rise of crypto is an avenue for investors to diversify their investment portfolio. Similarly, the executive explained that as a Bank, the firm prioritizes security and compliance.
Accordingly, the executive illustrated that the financial institution partnered with Haskey to ensure that its offerings are in line with the region’s regulatory standards and bank-grade security. The firm highlighted how the focus will give the newly launched feature a competitive advantage.
The Chief Executive Officer of Haskey, Livio Weng also provided insight into the collaboration. Weng disclosed that the exchange is privileged to partner with the firm and advance innovation in digital banking services in Asia.
As part of its commitment to the partnership, the CEO explained that Haskey is dedicated to providing users with regulatory compliance and secure digital asset trading solutions. Likewise, the executive described ZA Bank as the first bank in Asia to offer digital assets services.
Wang added that the Hashkey exchange will continue to work closely with ZA Bank to drive the development of Web3 innovations while delivering diversified financial services. Lastly, the CEO revealed that with the synergy of the two partners, investors will experience a new era of wealth management.