ZA Bank, a banking partner for crypto platforms in Hong Kong, has reached a significant milestone by saving its users over $100 million in investment fund subscription fees within just 15 months since the launch of its fee offer in August 2022. The bank’s CEO, Yiu Man-sung, attributes this achievement to their commitment to technology-driven solutions and cost-effective services.
In addition to its innovative fee offer, ZA Bank has made strategic moves to enhance its services, including a partnership with global tech company Wise in November of the previous year. This collaboration has allowed the virtual bank to offer overseas remittance services, leading to substantial savings for its users.
The partnership highlights ZA Bank’s dedication to providing diverse financial solutions to its growing customer base. The bank’s rapid expansion is evident, with one in every ten adults in Hong Kong now owning a ZA Card.
ZA Bank’s deposits exceeded $10 billion by the end of June this year, marking a significant 17% increase from the previous year-end. This robust growth underscores the trust and popularity ZA Bank has garnered among consumers in a relatively short time.
Beyond personal banking services, ZA Bank is setting its sights on the Web3 space, reinforcing its commitment with the “Banking for Web3” vision announced in April this year. The bank actively collaborates with over 80 Web3 companies, including leading names like OKX Hong Kong, and has become a banking partner for local licensed crypto trading platforms such as HashKey and OSL.
Looking ahead, CEO Yiu envisions further innovations, including plans to enable individual investors to buy and sell crypto assets seamlessly in fiat currency through the ZA Bank App. This forward-thinking approach positions ZA Bank as a key player in the evolving financial landscape, offering cutting-edge solutions and contributing to the financial well-being of a diverse user base.