The post Hong Kong’s ZA Bank pioneers crypto trading for retail users in Asia appeared on BitcoinEthereumNews.com.

ZA Bank, the largest digital bank in Hong Kong, announced that it would be the first Asian bank to offer crypto buying and selling services to retail users. The bank’s statement said that users would be able to trade BTC and ETH using U.S. dollars or Hong Kong dollars through its app.  Hong Kong residents will be required to open an investment account with Zhongan Bank and complete a risk assessment, among other processes, before they qualify for trading crypto, according to the bank’s statement. Wu Zhonghao, ZA Bank’s interim CEO, believes that the new service will help drive the bank’s revenue higher with income from the transaction fees.  ZA Bank partners with HashKey to offer crypto services to HK retail traders  Hong Kong Bank Just Bridged TradFi And The Blockchain Hong Kong’s ZA Bank is officially the first in Asia to let retail users trade Bitcoin and Ethereum straight from their app using fiat. No DEX, no swapping, just seamless, bank-backed crypto trading thanks to their hookup… pic.twitter.com/O2hoZh6T51 — Mario Nawfal’s Roundtable (@RoundtableSpace) November 25, 2024 Digital bank ZA Bank announced a collaboration with the HashKey exchange to provide crypto trading services to Hong Kong retail users. Effective November 25th, ZA Bank users will be able to use the bank’s app to trade Bitcoin and ETH directly in HKD and USD, according to the bank’s statement. The bank disclosed that users would be required to undergo several pre-approval processes, including a risk assessment before they started to trade.  There would be an ‘entry fee’ of $70 or HK$600, a $1.99 (HK$15) commission fee per transaction, and a platform fee of 1.5% of the transaction amount. However, the statement claimed that the commission would be waived and the platform’s fee would be reduced to 0.8% of the transaction amount by…

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Filed under: News - @ November 25, 2024 6:26 am