Zhong An (ZA) Bank, a digital bank in Hong Kong, has declared that it has become the first bank in Asia to provide retail customers with bitcoin trading services. The launch of the service aims to address the growing demand from retail users to trade digital assets securely and directly.
The new app will allow users to buy and sell bitcoin and ethereum in both U.S. and Hong Kong dollars. According to ZA Bank, the service aims to make the bank more competitive and boost fee income.
Speaking about the achievement, Calvin Ng, Chief Executive of ZA Bank, said: “The rise of cryptocurrency presents investors with more diverse asset allocation opportunities. As a bank, we prioritize security and compliance, which is why we’ve partnered with Hashkey, a globally leading licensed virtual asset exchange, to meet regulatory standards and deliver bank-grade security in virtual asset trading—our key competitive advantage in the Asian market.”
With bitcoin and ethereum already available for retail customers, ZA Bank aims to introduce two other digital assets later on. The app will provide the bank with the opportunity to tap into a new revenue stream and reinforce its reputation as an innovator in the digital banking space.
ZA Bank intends to use this initiative to solidify its position as a pioneer in integrating traditional banking with digital assets, reflecting Hong Kong’s ambitions to become a global hub for cryptocurrency and blockchain innovation.
