November 26, 2024
By Our Correspondent
Hong Kong digital bank ZA Bank announced today the launch of cryptocurrency trading services on its app, becoming the first bank in Asia to offer such services to retail users, according to Ming Pao newspaper.
Users can buy and sell Bitcoin and Ethereum using Hong Kong dollars and US dollars.
The entry threshold for this service is 70 USD or 600 HKD, with a commission of 1.99 USD or 15 HKD per transaction, and a platform fee of 1.5% of the transaction amount.
ZA Bank will implement promotional policies by the end of June 2025, including waiving commissions and reducing the platform fee to 0.8%.
ZA Bank’s acting CEO, Wu Zhonghao, stated that the bank achieved monthly profitability in July this year, and this new business is expected to further drive revenue growth.
