Hong Kong’s ZA Bank to offer retail traders crypto trading with fiat
Chinese virtual bank ZA Bank has revealed plans to offer crypto trading services with fiat currencies to retail customers. In an interview with the Hong Kong Economic Journal, ZA Bank CEO Ronald Iu said the Hong Kong-based company eventually plans to start offering crypto trading services with fiat via its mobile application ZA Bank App, although he did not provide a timetable. The ZA Bank CEO noted that the company is set to double down on web3, as the virtual bank has already provided commercial banking services to over 80 crypto firms, including OKX’s branch in Hong Kong. In addition to OKX, ZA Bank is also a banking partner for local licensed virtual asset trading platforms HashKey and OSL. Since its inception in 2020, ZA Bank has undergone an expansion of its customer base, reaching a milestone where one in ten adults in Hong Kong now owns a ZA Card. Ronald Iu also said that as of the end of June, customer deposits have surpassed 10 billion yuan (~$1.4 billion), marki...