Yigit Taha OZTURK 
ZA Bank, Hong Kong’s largest virtual bank, has introduced a service enabling retail users to trade Bitcoin (BTC) and Ethereum (ETH) directly via its platform. The initiative merges traditional banking with cryptocurrency, offering new opportunities for retail investors.
- Supported Cryptocurrencies: Only Bitcoin (BTC) and Ethereum (ETH) are available for trading.
- Requirements: Users must hold a ZA Bank account and complete a risk assessment to access the service.
- Partnership: ZA Bank has collaborated with HashKey Exchange to ensure regulatory compliance and streamline operations.
Calvin Ng, Alternate CEO of ZA Bank:
“The rise of cryptocurrencies provides investors with diverse asset allocation opportunities.”
Livio Weng, CEO of HashKey Exchange:
“We will continue to work closely with ZA Bank to develop the Web3 ecosystem and offer diversified financial services.”
Regulatory Landscape in Hong Kong
- Retail crypto trading became legal in Hong Kong in August 2023.
- Three exchanges currently hold licenses from the Securities and Futures Commission (SFC):
- OSL (2020)
- HashKey (2022)
- Hong Kong Virtual Asset Exchange (HKVAX) (October 2023)
The SFC expects to grant additional licenses by the end of the year. ZA Bank, established in 2019, is Hong Kong’s first licensed virtual bank, serving over 800,000 users.
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