News View Non-AMP

ZA Bank Becomes Hong Kong’s First Digital-Only Bank Approved for Crypto Trading

Published by
Qadir AK

In a groundbreaking development, ZA Bank, Hong Kong’s leading virtual bank, has become the first digital-only bank to receive approval from the Securities and Futures Commission (SFC) for Type 1 regulated activity. This approval allows ZA Bank to offer cryptocurrency trading services, making it a key player in Hong Kong’s rapidly growing crypto market.

This achievement comes as the city tightens its regulations on unlicensed exchanges.

But what does this mean for you? Read on to discover how this development could impact the future of crypto trading and investment.

A Year of Preparation Pays Off

Local reports indicate that this approval follows months of careful preparation, allowing ZA Bank to take advantage of new crypto regulations implemented in June 2023. These regulations provide a structured framework for the expanding digital asset industry in Hong Kong.

Rockson Hsu, the CEO of ZA Bank, described the approval as a “game-changing” milestone. The bank plans to expand into virtual asset services and introduce an investment fund service. This initiative aligns with Hong Kong’s goal of becoming a global crypto hub, aiming to attract digital asset firms through a comprehensive regulatory framework that requires exchanges to be licensed by February 2024.

Creating a Secure Environment for Crypto Traders

Hong Kong’s strict regulatory approach has created an environment where licensed platforms like ZA Bank can thrive, providing secure and regulated services to crypto traders.

This approval is part of a broader effort by the city’s regulators to legitimize the crypto industry, highlighted by the earlier approvals of Bitcoin and Ether exchange-traded funds (ETFs), which have boosted the market’s credibility.

Next Steps: Investment Fund Service Launch

ZA Bank’s next move will be to launch its investment fund service, supporting Hong Kong’s broader goals to aid Web3 startups and attract global crypto investors.

As competition heats up with crypto hubs like Singapore and Dubai, this bold step could turn Hong Kong into a powerhouse in the digital finance world.

Share your predictions for ZA Bank’s future.

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

Recent Posts

These 2 Tokens That Are Not Dogecoin (DOGE) and Shiba Inu (SHIB) Will Turn $200 into $10,000 in 2025

While Dogecoin (DOGE) and Shiba Inu (SHIB) remain the OG giants of the meme space,…

June 25, 2025

James Wynn Goes All In on Shorts, Calls Market Pump “Completely Fake”

James Wynn, once known as a fearless crypto trader, is now making headlines again —…

June 25, 2025

What Crypto To Buy Now As the Markets Dip

Crypto markets are dipping, sparking curiosity about what crypto to buy now. Investors are eyeing…

June 25, 2025

Shiba Inu Price Prediction 2025, 2026 – 2030: Will SHIB Price Hit $0.00005?

Story Highlights The live price of SHIB memecoin is SHIB token price could reach a…

June 25, 2025

Vitalik Buterin Supports Roman Storm as Ethereum Foundation Enters Legal Fight

Ethereum co-founder Vitalik Buterin has officially backed Tornado Cash cofounder Roman Storm, with the Ethereum…

June 25, 2025

TRON Surpasses Ethereum in Stablecoin Usage

In the past three days, the TRON price has risen by 5%, largely due to…

June 25, 2025