TechFlow reported, according to Bloomberg, Ronald Iu, CEO of Hong Kong's ZA Bank, said in an interview on Tuesday that ZA Bank will offer cryptocurrency-to-fiat conversion services through licensed exchanges.
Ronald Iu stated that ZA Bank will act as the settlement bank for customers, allowing them to deposit cryptocurrencies into exchanges and withdraw funds in Hong Kong, Chinese, and US currencies.
Ronald Iu also noted that this business model is already operational with HashKey and OSL, currently the only two licensed cryptocurrency exchanges in Hong Kong. ZA Bank will extend the same service to other licensed exchanges.
Add to Favorites
Share to Social Media
