ZA Bank commences sandbox trials of digital asset trading service
ZA Bank, Hong Kong’s first and largest digital bank1, today announced that it had commenced the sandbox trial of its virtual asset trading service.
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This innovative service seeks to enable eligible Hong Kong retail investors to enjoy a more secure, reliable and convenient virtual asset trading experience in a strictly regulated banking environment, further driving fintech development in Hong Kong.
The global cryptocurrency market has enormous growth potential, with the total market capitalisation reaching over US$2 trillion to date2. A market study has also shown that 75% of Hong Kong retail investors surveyed expressed interest in trading cryptocurrencies3. Upon the successful completion of the pilot trial, ZA Bank will proactively start the preparatory work for the official launch of its virtual asset service to further address the investment needs of Hong Kong users through the ZA Bank App.
Ronald Iu, CEO of ZA Bank, said: “This milestone not only signifies ZA Bank’s continued progress towards our ‘Banking for Web3’ vision, but also demonstrates our commitment to supporting the development of virtual assets in Hong Kong. The wave of favourable policies and good news from the Hong Kong government and the industry during the FinTech Week will inject new momentum into the local fintech ecosystem. As a pioneer in local financial innovation, ZA Bank looks forward to sharing more positive updates soon, catering to the demand for virtual assets among Hong Kong users and helping to strengthen the city’s status as a leading international financial centre.”