Public Interest in Cryptocurrency Transactions
A recent poll carried out by ZA Bank, a financial institution in Hong Kong, reveals a strong interest among customers for banks to facilitate cryptocurrency transactions. Over the last three weeks, the survey showcased that an impressive 81% of participants desire banks to enable direct transfers of cryptocurrencies akin to traditional cash transactions, as opposed to just offering trading platforms.
Desire for a Broader Spectrum of Cryptocurrencies
Additionally, a significant proportion, exceeding 75%, voiced their aspirations for Hong Kong to embrace a broader spectrum of cryptocurrencies. Respondents expressed particular interest in using stablecoins like Tether and USDC.
Trust in Banks for Cryptocurrency Management
Further illustrating their confidence in banks, a substantial number of respondents emphasized their trust in banks to manage cryptocurrency investments and safeguard against potential risks and fraud. This is particularly relevant in light of previous security breaches on platforms like ByBit. This trust highlights a growing inclination to view banks as secure custodians of digital assets.
ZA Bank’s Cryptocurrency Trading Initiative
ZA Bank, which operates under the oversight of the Hong Kong Monetary Authority following its licensing in March 2019, has recently ventured into cryptocurrency trading. In November 2024, it rolled out a feature on its app allowing users to engage in buying and selling Bitcoin and Ethereum with Hong Kong dollars and US dollars, marking a significant step in the local financial landscape as it responds to the evolving digital asset market.
