Hong Kong digital bank ZA Bank launches reserve banking services for stablecoin sandbox participants! 🚀
- ZA Bank is partnering with RD InnoTech, one of the first companies approved by the Hong Kong Monetary Authority (HKMA) to test stablecoins.
- The bank also plans to connect about ten additional stablecoin clients.
- Participants will explore opportunities in e-commerce, trade settlements and tokenized assets.
The HKMA has received more than 100 applications for stablecoin licensing, and the majority support regulation for the sustainable growth of virtual assets. 🏦
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