Ronald lu, CEO of ZA Bank / Photo credit: ZA Bank
ZA Bank, a virtual bank based in Hong Kong, has announced plans to launch services for virtual-asset trading for retail investors in its home market.
The bank is partnering with licensed virtual-asset exchanges in Hong Kong and aims to obtain regulatory approval to allow retail investors to trade these assets using fiat currency within the ZA Bank App.
This move is in line with the Hong Kong government’s goal of developing a thriving digital asset sector, which it expects will keep growing moving forward.
This initiative is part of ZA Bank’s broader strategy to expand its range of financial services. In addition to virtual-asset trading, the bank also plans to introduce US stock-trading services in the future.
Once the bank obtains the necessary regulatory approvals for virtual-asset trading, it will work with relevant stakeholders to implement safeguards to keep the safety and integrity of its services.
See also: What EU’s new crypto regulation means for US and Asia
Editing by Miguel Cordon and Jaclyn Tiu
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