ZA Bank Backs ASPIRe Roadmap to Drive New Opportunities in Web3 Finance

The Securities and Futures Commission of Hong Kong (SFC) has unveiled the ASPIRe virtual asset market roadmap, setting a solid foundation for the city’s Web3 financial ecosystem. Covering key areas such as VA over-the-counter (OTC), VA custodian services, VA product innovations, and market security, this initiative marks a significant step towards establishing Hong Kong as a global leader in digital finance. As Hong Kong’s first digital bank to support Web3 businesses in opening accounts, ZA Bank fully supports the ASPIRe roadmap and is committed to further enhancing its financial services to foster industry growth.

Record-High Digital Asset Investments Signal a Booming Market

In 2024, global digital asset investment inflows have reached an all-time high of USD 44.2 billion 1, nearly four times the amount recorded in 2021. Among these, Bitcoin (BTC) attracted USD 38 billion, while Ethereum (ETH) recorded USD 4.8 billion, reflecting the surging demand for digital assets and the growing maturity of the sector. This sustained capital inflow presents unprecedented opportunities for Web3 finance. As an international financial hub, Hong Kong must continue strengthening its market competitiveness to capitalise on this momentum and secure its position in the global digital asset landscape.

Accelerating the Growth of Web3 Ecosystem

With the Web3 industry expanding rapidly, digital asset infrastructure is becoming more sophisticated, attracting an increasing number of enterprises and investors. ZA Bank has been an active enabler of Web3 ecosystem, providing banking services to over 200 Web3 businesses and is committed to further expanding its offerings to support the ecosystem’s long-term development. At the same time, major financial institutions worldwide are exploring blockchain applications, cross-border payment innovations, and digital asset custodian solutions, underscoring the vast potential of Web3 finance. As demand for digital assets continues to rise in Hong Kong, the development of a more robust Web3 ecosystem is imperative.

Strengthening HK’s Digital Finance Landscape: Three Key Suggestions

While the ASPIRe roadmap provides a clear regulatory direction, ZA Bank believes that additional measures can further enhance Hong Kong’s leadership in Web3 finance. We propose focusing on the following areas:

 Enhancing Banking Support for Web3 Businesses

As the first digital bank in Hong Kong to support Web3 business account openings, ZA Bank remains committed to refining financial solutions tailored for Web3 enterprises. Ensuring secure and stable banking support is crucial for fostering a sustainable Web3 financial ecosystem.

Expanding the Range of Tradable Digital Assets

To boost Hong Kong’s global digital asset hub competitiveness, the city could consider further expanding the range of high-market-cap, highly liquid cryptocurrencies available for regulated trading. This would provide investors with more choices while reinforcing Hong Kong’s status as a key digital asset marketplace.

Bridging Traditional Finance and Web3

As the digital asset market evolves, traditional financial institutions must actively embrace innovation to further develop the ecosystem. By integrating compliance-driven and risk-managed digital asset solutions, banks and financial entities can play a pivotal role in strengthening Hong Kong’s digital finance market, driving long-term, sustainable growth.

The Only Hong Kong Bank Participating in Consensus Hong Kong 2025

With Web3 finance at a critical turning point, ZA Bank is honoured to be the only Hong Kong bank participating in Consensus Hong Kong 2025. The event will facilitate in-depth discussions with global Web3 leaders, regulators, and industry participants to explore the future of digital asset finance. ZA Bank looks forward to collaborating with industry stakeholders to further cement Hong Kong’s position as a global digital asset and Web3 financial centre.