In an effort to support this goal, ZA Bank has become a Title Sponsor of the inaugural Hong Kong Web3 Festival 2023 (12-15 April 2023) co-hosted by HashKey Group (HashKey) and Wanxiang Blockchain Labs.

As part of its commitment to the Web3 community, ZA Bank is now fully equipped to serve as the settlement bank for regulated Web3 entities in Hong Kong, and is prepared to facilitate licensed virtual asset trading platforms (VATPs) like Hash Blockchain Limited to process and settle transactions in a timely fashion.

Recently, ZA Bank has also started offering online account opening for local SMEs/startups from the Web3 community, addressing a still-critical pain point for many SME owners in the Web3 ecosystem. With many traditional banks hesitant to offer such services, ZA Bank is offering a streamlined and efficient account opening process, allowing Web3 companies easier access to basic banking services.

Ronald Iu, CEO of ZA Bank, said: “As Hong Kong is stepping up efforts to cultivate a Web3-friendly environment, ZA Bank’s online account opening for Web3 startups represents a major step forward in the integration of traditional banking services with the Web3 world. It signals a greater acceptance and recognition of the importance of this emerging sector and hopefully will encourage other financial institutions to follow suit in offering tailored banking services for Web3 companies. We look forward to exploring collaborations with key global Web3 businesses such as HashKey, OKX, and more.”