Hong Kong's Largest Digital Bank Starts Working with Crypto
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The largest digital bank in Hong Kong, ZA Bank, is set to work with all licensed crypto companies in the region as the collapses of American crypto-friendly banks forced businesses to seek new alternatives.

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In an interview with Bloomberg, ZA Bank Chief Executive, Ronald Iu, said the lender is ready to offer services like crypto-to-fiat currency conversions over licensed exchanges. The bank will act as a settlement provider to allow withdrawals in Hong Kong, China and US currencies, Iu explained. He also added that ZA Bank is already working with OSL and HashKey, the two local licensed crypto brokers.

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Established by Chinese online insurer ZhongAn in 2017, ZA Bank first offered traditional services to local startups. The bank claims it has over 200,000 clients with personal deposits valued at HKD 6 billion (~$764.3 million).

In late March, iHodl reported that the Hong Kong arms of Bank of Communications, Bank of China and Shanghai Pudong Development Bank had "either started offering banking services to local crypto firms or have made inquiries to the field."

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