TechFlow reports, on November 25, according to Ming Pao, Hong Kong-based digital bank ZA Bank announced today the launch of a cryptocurrency trading service within its mobile app, becoming the first bank in Asia to offer such services to retail customers. Users can now buy and sell Bitcoin and Ethereum using Hong Kong dollars and US dollars. The minimum entry amount is USD 70 or HKD 600, with a transaction fee of USD 1.99 or HKD 15 per trade, plus a platform fee of 1.5% of the transaction value. ZA Bank will implement promotional pricing until June 30, 2025, waiving transaction fees and reducing the platform fee to 0.8%.
According to Sing Tao Global News, ZA Bank's Deputy CEO Alfred Ng said the service took about one year to prepare and is open to all Hong Kong residents, with customers required to complete a risk assessment. To safeguard assets, investments in cryptocurrencies are capped at no more than 20% of a customer’s total investment portfolio. HashKey Exchange Chief Analyst Ding Zhaofei revealed that similar collaborations are currently being discussed with other major banks, securities firms, and funds. He also cautioned that while Bitcoin has shown strong gains recently, U.S. inflation issues could trigger financial risks next year, urging investors to proceed with caution.
