ZA Bank has unveiled plans to introduce virtual asset trading services for retail investors. The bank said its initiative supports the Hong Kong government’s vision to develop a vibrant sector and ecosystem for virtual assets.

ZA Bank is partnering with Hong Kong-licensed virtual asset exchanges. The bank is aiming to obtain the required regulatory approvals to enable retail investors to trade virtual assets by using fiat currency within the ZA Bank App.

Ronald lu, CEO of ZA Bank, said: “We welcome the licensing guidelines issued yesterday by the Hong Kong SFC. We are excited to offer the new investment opportunities brought by virtual assets to our users. We believe that virtual assets hold the potential to become a significant asset class in the future. By offering virtual asset trading services, we will give our users the opportunity to stay ahead of the curve with ZA Bank under a regulated environment.”

ZA Bank’s strategic expansion plan

This move comes as part of ZA Bank’s strategic expansion plan to provide a comprehensive suite of financial services. In addition to virtual asset trading, ZA Bank also plans to introduce US stock trading services in due course. These new offerings will further strengthen ZA Bank’s position as an innovative wealth management platform, catering to the evolving needs of its users.

“Users can look forward to a more diverse banking product suite as we continue to evolve in our mission to become a future bank for now,” added Iu.

Upon obtaining the necessary regulatory approvals for virtual asset trading services, ZA Bank will work closely with relevant stakeholders to implement appropriate safeguards to ensure the safety and integrity of its services.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

These measures will encompass collaborating with trusted third-party providers, implementing advanced security protocols, and adhering to strict anti-money laundering (AML) and know-your-customer (KYC) regulations. In addition, ZA Bank plans to educate its users on the risks and benefits associated with virtual asset trading, to ensure that customers can make informed decisions.