HONG KONG -- Chinese insurer-backed ZA Bank is looking to ride Hong Kong's push to become a cryptocurrency and blockchain hub by focusing on clients that many traditional banks in the city have shied away from.
ZA says 60 to 70 companies involved in Web3 -- a concept covering cryptocurrency, blockchain and other technologies related to the digital economy -- have accounts at the bank. Of those, 20 or 30 are looking to become licensed crypto trading platforms, ZA Alternate CEO Devon Sin told Nikkei Asia.
