ZA Bank maps out 'banking for Web3' ambition

ZA Bank has decided to tap into the Web3 ecosystem toprovide essential banking services to Web3 enterprises. In an effort to support this goal, ZA Bank has become a title sponsor of the inaugural Hong Kong Web3 Festival 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) such as Hash Blockchain Limited to process and settle transactions in a timely fashion.

Furthermore, ZA Bank has recently started offering online account opening for local SMEs or startups from the Web3 community, addressing a still-critical pain point for SME owners in the Web3 ecosystem. According to the company, ZA Bank is offering a streamlined account opening process, allowing Web3 companies easier access to basic banking services, which makes it different from some of the traditional banks. 

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“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,” said Ronald Iu (pictured), CEO of ZA Bank.

“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,” Iu added.

MARKETING-INTERACTIVE has reached out to ZA Bank for additional information.

Back in March, ZA Bank launched its new NFT Maker campaign to interact with users through leveraging advanced artificial intelligence (AI) technology in celebration of its third anniversary. As part of the campaign, users could create unique pieces of art with advanced AI technology and mint them into tradable NFTs, marking this occasion as another market-first in the bank’s journey of technological innovation.

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