Hong Kong’s largest virtual bank, ZA Bank, has introduced a service enabling retail users to buy and sell Bitcoin and Ethereum using fiat currency. Customers must have a bank account and complete a risk assessment to access this new crypto trading feature through the bank's app. Currently, only Bitcoin and Ethereum transactions are supported. The launch, detailed in a statement on November 25, is a collaboration with HashKey to fulfill regulatory obligations while blending traditional banking with cryptocurrency services. ZA Bank, operational since 2019, boasts over 800,000 users and aims to enhance the Web3 ecosystem by offering more diverse asset allocation opportunities in response to the growing interest in cryptocurrencies. With three exchanges licensed by Hong Kong's Securities Futures Commission (SFC), the regulatory landscape for digital assets is expected to evolve further, potentially allowing more firms to operate by year-end.

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