This new trading feature is integrated into the bank's main app, responding to significant interest from customers, as a survey indicated that 70% of respondents wanted to trade cryptocurrency via banking apps.

ZA Bank, the largest digital bank in Hong Kong with over 800,000 users, has officially launched direct cryptocurrency trading for retail customers, starting with Bitcoin and Ethereum.

The platform allows seamless trading without the need to switch between different applications, simplifying the investment process for users.

The bank began a sandbox trial for its virtual asset trading service in October 2023, leading up to this official launch.

ZA Bank is offering competitive trading terms, including a minimum trading threshold of USD 70 or HKD 600 and a promotional zero-commission period for the first three months.

This launch coincides with a significant rally in the crypto market, with Bitcoin nearing a price of $100,000, fueled by various global economic factors.

ZA Bank's cryptocurrency trading service is launched in partnership with HashKey Exchange, which ensures compliance with regulatory standards and bank-grade security.

Livio Weng, CEO of HashKey Exchange, emphasized their commitment to regulatory standards and innovation in digital banking services through this partnership.

The bank aims to support the Web3 ecosystem while adhering to regulatory policies and market demands, reflecting a broader trend in digital finance.

The total market capitalization of cryptocurrencies has surpassed $3.5 trillion, indicating a growing interest in digital currencies.

The Securities and Futures Commission (SFC) of Hong Kong is expected to approve more licenses for crypto exchanges and digital asset firms by the end of 2024, expanding the market further.

Retail cryptocurrency trading was authorized in Hong Kong in August 2023, with only three exchanges licensed by the SFC: OSL, HashKey, and HKVAX.