ZA Bank, a Hong Kong-based bank, announced on November 25 that it has become the first bank in Asia to offer cryptocurrency trading services to retail users. This service allows users to buy and sell Bitcoin in Hong Kong dollars and US dollars, as well as Ethereum, on the ZA Bank app. After opening an investment account with ZA Bank, Hong Kong residents must complete a risk assessment and other processes to enable them to trade these two cryptocurrencies on the app.
The initial investment fee is US$70 or HK$600, and the per-transaction commission fee is US$1.99 or HK$15. ZA Bank charges a 1.5% platform fee on the transaction amount (with a minimum fee of US$1.99 or HK$15 per transaction), but waives commissions at the end of the month and reduces the platform fee to 0.8% of the transaction amount.
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