Hong Kong’s ZA Bank kicks off dedicated banking services for stablecoin issuers 

The bank has surpassed $1b in transfer turnover to Web3 clients.

Hong Kong’s ZA Bank has launched dedicated banking services for stablecoin issuers, including FX services and fund transfers.

““With our new dedicated client accounts, we are tackling the unique challenges of stablecoin issuers head-on, promoting the growth and stability of the Web3 economy,” said Devon Sin, ZA Bank alternative chief executive.

ZA Bank’s current business banking solution offers a comprehensive range of functionalities. Products offered include FX services to seamless fund transfers, convenient payroll management, and various time deposit options.

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Throughout 2023, ZA Bank reporetdly witnessed growth in doing business with the Web3 ecosystem. This includes surpassing $1b in transfer turnover from Web3 clients; securing over 80% 2 of Virtual Asset Trading Platform (VATP) clients' banking needs in Hong Kong; and onboarding more than 100 Web3 companies, establishing ZA Bank as the preferred banking partner for Web3 businesses.