Hong Kong Zhong An Bank will provide cryptocurrency to fiat currency exchange services through licensed exchanges

2023-04-12 10:49:11

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ChainCatcher news, according to Bloomberg, Ronald Iu, CEO of ZA Bank in Hong Kong, stated in an interview on Tuesday that ZA Bank will provide a service for converting crypto tokens to fiat currency through licensed exchanges. Ronald Iu mentioned that ZA Bank will act as the settlement bank for customers, allowing them to withdraw in Hong Kong, Chinese, and US currencies after depositing crypto tokens at the exchange.

Ronald Iu also stated that this business model has been operating with HashKey and OSL, which are currently the only two licensed cryptocurrency exchanges in Hong Kong. ZA Bank will also offer the same services to other licensed exchanges. (source link)

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