CoinVoice has recently learned that according to Cointelegraph, ZA Bank, the largest virtual bank in Hong Kong, announced that it will provide exclusive reserve bank services for stablecoin issuers.
ZA Bank confirmed in a statement that it has partnered with Yuancoin, the first stablecoin issuer, as the first digital bank in Hong Kong to provide such services. Yuancoin has become the first stablecoin issuer to utilize the services of these reserve banks, marking a major breakthrough in the innovation of traditional banking and financial technology. In addition, ZA Bank is negotiating future cooperation projects with about 10 other stablecoin companies and actively supports the policies of the Hong Kong Monetary Authority (HKMA). [Original link]