ZhongAn Bank opens an operational account for OKX in Hong Kong, partnering to support the development of Web3 in Hong Kong
ZhongAn Bank's operating account provides basic commercial banking services for OKX Hong Kong to meet its daily banking and financial management needs.Author: OKX
On November 1, 2023, ZhongAn Bank, Hong Kong's first virtual bank, announced today that it has opened an operational account for OKX Hong Kong, a global leading virtual asset exchange and Web3 technology company.
The operational account from ZhongAn Bank provides OKX Hong Kong with essential commercial banking services to meet its daily banking and financial management needs. This move further supports OKX Hong Kong's application for a Virtual Asset Trading Platform (VATP) license with the Securities and Futures Commission (SFC) under the revised Anti-Money Laundering and Counter-Terrorist Financing Ordinance, as well as its plans to apply for Type 1 and Type 7 licenses under the Securities and Futures Ordinance.
ZhongAn Bank's Vice President, Xian Di Yun, stated, "As OKX continues to expand its business in Hong Kong, we are pleased to become its trusted banking partner, marking a new step towards realizing our vision of 'Banking for Web3.' We look forward to working closely with OKX to jointly support the nurturing of a healthy and vibrant Web3 ecosystem in Hong Kong under the new VATP licensing regime."
Earlier this year, ZhongAn Bank announced its ambition to become the preferred banking partner for licensed VATP and Web3 enterprises regulated by the SFC, supporting the Hong Kong government's vision of developing the city into a global leading Web3 technology hub.
OKX's Global Chief Business Officer, Li Zhi Kai, said, "As Hong Kong gradually transforms into a leading international Web3 and virtual asset center, industry collaboration and banking relationships are crucial. Through our partnership with ZhongAn Bank, our goal is to promote the development and widespread application of virtual assets in Hong Kong, including jointly hosting investor education activities."
OKX announced the establishment of OKX Hong Kong in March and intends to apply for the relevant VATP licenses.
(From left) ZhongAn Bank Vice President Xian Di Yun and OKX Global Chief Business Officer Li Zhi Kai
