Hong Kong Zhongan Bank becomes the first bank in Asia to offer encryption trading services to retail investors

On November 25, according to Ming Pao, ZA Bank in Hong Kong announced that it has become the first bank in Asia to provide cryptocurrency trading services to retail users. Starting today, the bank will provide the buying and selling of BTC and ETH, two types of virtual money, in Hong Kong dollars and US dollars on its app. After Hong Kong residents open an investment account with ZA Bank, they need to complete risk assessment and other procedures to be able to buy and sell the two types of currencies on the application. The entry fee is $70 or HK$600 respectively, and the commission for each transaction is $1.99 or HK$15. The platform fee is 1.5% of the transaction amount (with a minimum charge of $1.99 or HK$15 per transaction). The bank will waive commissions and reduce platform fees to 0.8% of the transaction amount by the end of June next year.