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ZA Bank becomes HashKey Exchange’s first settlement bank to offer fiat-currency deposit and withdrawal services
ZA Bank has become the first settlement bank for HashKey Exchange, Hong Kong’s first licensed retail virtual asset exchange, as it starts offering fiat-currency deposit and withdrawal services to investors who hold a ZA Bank account.
As part of its “Banking for Web3” ambition, ZA Bank provides the necessary infrastructure to facilitate HashKey Exchange to process and settle fiat-currency transactions in a timely manner. ZA Bank users can now transfer HKD/USD to and from HashKey Exchange via the ZA Bank App and conduct virtual asset transactions on HashKey Exchange, enjoying a seamless experience of deposits and withdrawals.
Ronald Iu, CEO of ZA Bank, said, “With the new licensing regime coming into force this June, we are actively preparing ourselves to partner with HashKey Exchange and other Hong Kong-licensed virtual asset exchanges and enable retail investors to trade virtual assets by using fiat currencies in the ZA Bank App. We look forward to working with HashKey to promote Hong Kong’s development into a global virtual asset hub.”
Ronald continued: “We have always believed that with proper regulation, Web3 is where the future of finance lies. Through continuous enhancement and expansion of our existing services, we expect to empower our users to easily capture new investment opportunities in a secure environment. This will further reinforce our proposition as an innovative wealth management platform that caters to users’ evolving needs.”
ZA Bank aspires to become the go-to banking partner for the Web3 ecosystem. Through providing essential business banking services for licensed virtual asset trading platforms (VATPs) and Web3 enterprises, the bank seeks to boost the development of a vibrant sector and ecosystem for virtual assets.
Currently, ZA Bank does not offer retail virtual asset trading services. It is licensed by the Securities and Futures Commission for Type 1 regulated activity (dealing in securities) to provide investment fund services.
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