Hong Kong ZA Bank has made a significant move by launching a cryptocurrency trading service, officially becoming the first bank in Asia to offer retail users the ability to trade cryptocurrencies directly through its app. This launch allows customers to trade Bitcoin (BTC) and Ethereum (ETH) 24/7 in both Hong Kong dollars (HKD) and US dollars (USD), without the need to switch platforms
.Key Features of ZA Bank’s Crypto Trading Service:
- Accessibility: The minimum transaction amount is set at HKD 600 (approximately $70), making it accessible for a wide range of investors.
- Fees: During the promotional period until June 2025, commission fees are waived, but a platform fee of 0.8% will apply. After this period, the commission will be $1.99 or HKD 15 per transaction, with the platform fee increasing to 1.5%.
- Technology Partnership: ZA Bank has partnered with HashKey Exchange, a licensed virtual asset exchange in Hong Kong, which provides the necessary technological infrastructure for this service through its institutional-grade platform, HashKey Pro.
This initiative aligns with Hong Kong’s goal to establish itself as a global hub for virtual asset trading. Since announcing its ambition in 2022, the region has granted licenses to several major exchanges and is now seeing banks like ZA Bank enter the retail crypto market.
The move is expected to enhance ZA Bank’s revenue streams and reflects a broader trend of integrating traditional banking with digital asset trading capabilities
