Hong Kong continues to advance its Web3 ecosystem following the establishment of the Hong Kong Web3.0 Association. ZA Bank, Hong Kong's leading digital bank, has announced plans to provide cryptocurrency-to-fiat conversion services through licensed trading platforms.
About ZA Bank
Founded through a partnership between China's ZhongAn Insurance, Ant Group, and AEON Group, ZA Bank launched public services on March 24, 2020. Key milestones include:
- 2022: Became Hong Kong's first virtual bank to receive a Type 1 (Securities Trading) license from the SFC
2022 Year-End Statistics:
- 650,000+ retail users (30% YoY growth)
- HKD 9.1 billion in deposits
- HKD 4.9 billion in loans (94% YoY growth)
- HKD 270 million net revenue (106% YoY growth)
Shareholder Structure
ZA Bank operates as a wholly-owned subsidiary of ZhongAn Financial Services Limited, with ultimate ownership tracing to ZhongAn Online P&C Insurance. Major shareholders include:
| Shareholder | Stake |
|---|---|
| Ant Group | 10.37% |
| Ping An Insurance | 10.21% |
| Shenzhen Jiadexin Investment | 9.53% |
| Tencent | 7.82% |
Step-by-Step Account Opening Guide
Requirements
- Physical presence in Hong Kong during application
- Mainland China mobile number (+86) with Hong Kong roaming enabled
Valid travel documents:
- Mainland Travel Permit for Hong Kong/Macau
- Chinese ID card (must be 18+)
- Mainland bank savings account number
Application Process
Download the App:
- iOS: Search "ZA Bank" on App Store
- Android: Find on Google Play or download APK from official site
Connect via Hong Kong Network:
- Use local WiFi or Hong Kong SIM card data
Submit Documents:
- Complete digital verification process
- Wait for approval (typically 1-3 business days)
Receive Physical Card:
- Optional debit card mailed to your Hong Kong address
👉 Discover seamless crypto-fiat integration with ZA Bank
FAQ Section
Q: Can non-Hong Kong residents open ZA Bank accounts?
A: Currently, physical presence in Hong Kong is mandatory for identity verification.
Q: What makes ZA Bank crypto-friendly?
A: Its planned integration with licensed exchanges enables direct crypto-to-fiat conversions with USD/HKD/CNY withdrawals.
Q: Are there minimum deposit requirements?
A: ZA Bank operates with no minimum balance requirements, typical of Hong Kong's virtual banking sector.
Q: How secure is digital banking with ZA?
A: As a licensed bank under HKMA supervision, it employs multi-factor authentication and complies with strict financial regulations.