Hong Kong’s virtual bank ZA said that it plans to introduce virtual asset trading services for retail investors under the city’s new licensing regime announced yesterday.
By partnering with Hong Kong-licensed virtual asset exchanges, ZA Bank aims to obtain the required regulatory approvals to enable retail investors to trade virtual assets by using fiat currency within the ZA Bank app.
Upon obtaining the necessary regulatory approvals, ZA Bank said that it will work closely with relevant stakeholders to implement appropriate safeguards to ensure the safety and integrity of its services.
In addition to that, ZA Bank also plans to educate its users on the risks and benefits associated with virtual asset trading, to ensure that its customers can make informed decisions.
ZA Bank indicated that it will also be introducing US stock trading services in due course to strengthen its wealth management platform.
Ronald Iu
Ronald lu, CEO of ZA Bank said,
“We welcome the licensing guidelines issued yesterday by the Hong Kong SFC, and we are excited to offer the new investment opportunities brought by virtual assets to our users.
We believe that virtual assets hold the potential to become a significant asset class in the future. By offering virtual asset trading services, we will give our users the opportunity to stay ahead of the curve with ZA Bank under a regulated environment.”
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