TechFlow News — ZhongAn Online today released its 2023 interim results. Its Hong Kong-based virtual bank, ZA Bank, achieved a net revenue of HK$152 million in the first half of this year, representing a 13.0% year-on-year increase. As of the end of June, ZA Bank's deposit balance reached HK$10.712 billion, with total loans amounting to approximately HK$4.916 billion.
ZA Bank currently provides basic commercial banking services to Web3 companies and acts as a settlement bank for local licensed virtual asset exchanges such as HashKey Exchange, offering convenient fiat deposit and withdrawal services. In addition, ZA Bank plans to launch U.S. stock trading services at an appropriate time to further meet users' diverse investment and wealth management needs.
