ZA Bank opens operating account for OKX Hong Kong, joining hands to support Hong Kong's Web3 development
TechFlow Selected TechFlow Selected
ZA Bank opens operating account for OKX Hong Kong, joining hands to support Hong Kong's Web3 development
Hong Kong's first virtual bank, ZA Bank, and OKX, a leading global digital asset exchange and Web3 technology company, today announced that the bank has opened an operating account for OKX Hong Kong.
Navigating Web3 tides with focused insights
(From left) Zac Sin, Deputy CEO of ZA Bank, and Jay Hao, Global Chief Commercial Officer of OKX
On November 1, 2023, ZA Bank, Hong Kong’s first virtual bank, and OKX, a leading global digital asset exchange and Web3 technology company, announced today that the bank has opened an operating account for OKX Hong Kong.
ZA Bank's operating account provides OKX Hong Kong with essential commercial banking services to meet its daily financial management needs. This move further supports OKX Hong Kong’s plans to apply to the Securities and Futures Commission (SFC) for a Virtual Asset Trading Platform (VATP) license under the amended Anti-Money Laundering and Counter-Terrorist Financing Ordinance, as well as Type 1 and Type 7 licenses under the Securities and Futures Ordinance.
Zac Sin, Deputy CEO of ZA Bank, said: “As OKX continues to expand its operations in Hong Kong, we are delighted to become their trusted banking partner, marking another step forward in realizing our vision of ‘Banking for Web3’. We look forward to working closely with OKX to jointly support the development of a healthy and vibrant Web3 ecosystem in Hong Kong under the new VATP licensing regime.”
Earlier this year, ZA Bank announced its ambition to become the preferred banking partner for SFC-regulated licensed VATPs and Web3 enterprises, supporting the government’s vision of establishing Hong Kong as a global Web3 technology hub.
Jay Hao, Global Chief Commercial Officer of OKX, said: “As Hong Kong evolves into a leading international Web3 and digital asset center, industry collaboration and banking relationships are crucial. By partnering with ZA Bank, we aim to promote the development and widespread adoption of digital assets in Hong Kong, including co-hosting investor education initiatives.”
OKX announced the establishment of OKX Hong Kong in March and intends to apply for relevant VATP licenses.
Join TechFlow official community to stay tuned
Telegram:https://t.me/TechFlowDaily
X (Twitter):https://x.com/TechFlowPost
X (Twitter) EN:https://x.com/BlockFlow_News
OKX
