CandleFocus Hong Kong’s ZA Bank begins sandbox pilot of crypto trading service
2024-10-29
Author: Content Editor
Hong Kong-based digital bank ZA Bank has begun a sandbox trial of its virtual asset trading service, targeting retail investors. The trial aims to meet the increasing demand for crypto trading in Hong Kong, where 75% of retail investors are interested in the sector. Once the pilot is complete, ZA Bank plans to launch the service through its banking app, providing users with access to the global crypto market, which is currently valued at over $2 trillion. The bank received approval from the China Securities Regulatory Commission to add virtual asset transaction conditions to its license, making it the first digital-only bank in Hong Kong to gain a license for regulated crypto activity.
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