Hong Kong ZA Bank to Provide Virtual Asset Trading Services for Retail Investors

Hong Kong ZA Bank to Provide Virtual Asset Trading Services for Retail Investors

Hong Kong ZA Bank plans to introduce virtual asset trading services for retail investors by partnering with local licensed virtual asset exchanges, seeking regulatory approval for retail investors to buy and sell virtual assets using fiat currency through the ZA Bank App.

Earlier reports, Hong Kong's ZA Bank is expanding its services to include transfers of crypto and fiat currencies, as well as providing account services for the digital asset sector. The bank will offer token-to-fiat currency conversions over licensed exchanges, acting as a settlement bank for clients to allow withdrawals in Hong Kong, China and US currencies after they deposit crypto tokens with exchanges.

Launched officially in March 2020, ZA Bank is one of Hong Kong's eight licensed virtual banks and had amassed the most in terms of net assets while remaining unprofitable as of last year.

 

TokenInsight is dedicated to covering the most important and cutting-edge trends in the world of crypto. If you have information to share with us, please feel free to contact our email news@tokeninsight.com. Your trust will be well respected.

Source

Policy and Regulation

Related News
Trump dump: Crypto liquidations hit $350M as Bitcoin drops below $69K Trump dump: Crypto liquidations hit $350M as Bitcoin drops below $69K
Hong Kong eyes tax breaks for crypto, more trading platform licenses by year-end: officials Hong Kong eyes tax breaks for crypto, more trading platform licenses by year-end: officials
US government crypto wallets hacked for $20M — Arkham Intelligence US government crypto wallets hacked for $20M — Arkham Intelligence
Ex-CEO of Mine Digital stole $1.5M from Bitcoiner, regulator alleges Ex-CEO of Mine Digital stole $1.5M from Bitcoiner, regulator alleges
Japan political party leader promises crypto tax cuts if elected Japan political party leader promises crypto tax cuts if elected
Latest News More More
3 Hours Ago Meta opens Llama AI model up to US military
3 Hours Ago Bitcoin price needs 2 months to return 'above macro trend' — Forecast
1 Day Ago Viral squirrel ‘Peanut’ triggers Solana memecoin frenzy
4 Days Ago ZetaChain resumes block production after a six-hour outage
4 Days Ago Coinbase shares drop 15% after weaker-than-expected earnings report
delate
Use TokenInsight App All Crypto Insights Are In Your Hands
Open