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Hong Kong’s ZA Bank Welcomes Crypto Startups with Open Arms
As the world moves towards a more digital economy, it’s no surprise that traditional banks are becoming less relevant. With the rise of cryptocurrency, many startups are looking for a bank that will support their digital assets. Fortunately, ZA Bank, a virtual bank based in Hong Kong, is stepping up to the plate.
In recent years, we’ve seen a number of cryptocurrency exchanges and banks fail due to poor management, lack of regulation, or fraud. As a result, many startups have been left scrambling for a new bank to store their funds. However, ZA Bank is offering a ray of hope for these businesses.
Settlement Bank for Regulated Web3 Companies
According to a recent announcement, ZA Bank is now allowed to serve as the settlement bank for regulated web3 companies in Hong Kong. This is a big deal because it means that crypto startups will now have a reliable and regulated bank to store their funds.
At the Hong Kong Web3 Festival, which is backed by the government and has attracted crypto startups and institutions from all over Asia, ZA Bank announced that it will facilitate crypto-fiat conversions in conjunction with two licensed exchanges in Hong Kong, HashKey and OSL. This means that customers will be able to swap their crypto into fiat…
