Key Takeaways
- ZA Bank has over 800,000 users who can now trade BTC and ETH through the banking app.
- The offering is in collaboration with HashKey Exchange, the largest crypto exchange in Hong Kong.
- The minimum trading amount is $70, or HKD 600.
Hong Kong-based digital bank ZA Bank has become the first in Asia to offer crypto trading services directly to its retail customers. Now, its users can access Bitcoin (BTC) and Ethereum (ETH) by trading through the bank’s mobile app.
ZA Bank Crypto
As per an official announcement from ZA Bank, it is now offering crypto services, allowing users to trade Bitcoin and Ethereum directly through its mobile app.
It comes as part of a collaboration with Hong Kong’s largest crypto exchange, HashKey Exchange. In the partnership, the bank will tap “HashKey Pro” as its foundation to provide trading services. As noted by Livio Weng, CEO of HashKey Exchange:
“HashKey Pro, as a one-stop virtual asset solution, enables traditional financial institutions to quickly adopt virtual asset trading capabilities, lowering technological barriers and providing users with a convenient and efficient trading experience.”
ZA Bank also notes that as a bank it must “prioritize security and compliance”, and HashKey aligns with the regulatory standards needed to offer “bank-grade security” in cryptocurrency trading.
It’s a major step forward for crypto in Asia and may go on to reveal a healthy appetite amongst its users who may have avoided crypto for one reason or another.
Looking Ahead
The bank foresees a bright future for the crypto markets, noting the exponential rises in crypto prices, overall market capitalization, and the positivity surrounding Donald Trump’s appointment as U.S. President.
It’s a notable moment as the bank has effectively onboarded over 800,000 users to crypto in one fell swoop. Underscoring its commitment to challenging traditional finance (TradFi), the bank says it will continue pushing boundaries and “advancing the Web3 ecosystem.”
It’s a major step forward for one of Hong Kong’s top-performing digital banks, but also HashKey, which has added a major player to its “Pro” offering client list. So far, it’s processed over 5 billion HKD ($650 million) in transactions across more than ten brokers and banks.
Eddie is a gaming and crypto writer at CCN. Covering the often weird and wonderful world of Web3 with an adoring, but skeptical eye.
Prior to CCN, Eddie has spent the past seven years working his way through the crypto, finance, and technology industry. He began with PR and journalism with Bitcoin PR Buzz and BitcoinNews.com, eventually working his way to become a copywriter with a dozen firms, including the likes of Polkadot before returning to journalism in 2023.
Having studied Radio production and journalism at University in the UK, Eddie spent a few years making podcasts and presenting on a local London radio station as he built up his writing chops.
A lifelong skateboarder, Eddie can often be found at the skatepark or touring the streets looking for something new to try. That, or kicking back playing JRPGs on his original PSP.
