Hong Kong's New Crypto Licensing Regime: ZA Bank First to Gain Approval

Hong Kong is solidifying its position as a leading crypto hub with its new licensing regime for virtual assets. In a significant development, ZA Bank, Hong Kong's largest virtual bank, has become the first digital-only bank to secure approval under these new regulations, paving the way for wider adoption of cryptocurrency services.

The bank's approval aligns with Hong Kong's regulatory push to control unlicensed crypto activities. ZA Bank obtains SFC approval for a Type 1 license, allowing crypto trading services. This landmark decision, announced on September 30, 2025, positions ZA Bank at the forefront of the evolving digital asset landscape in Hong Kong. According to a local source, ZA Bank has become the first digital-only bank to receive approval from the Securities and Futures Commission (SFC).

ZA Bank secures approval to integrate cryptocurrency services, expanding its regulated activities. The company will start with allowing its customers to engage in crypto trading activities. The obtained license allows the company to add virtual asset trading conditions to its Type 1 license.

To ensure compliance with regulations, ZA Bank plans to work closely with licensed local virtual asset exchanges. Upon obtaining regulatory approval, retail investors will be able to buy and sell virtual assets through ZA Bank's platform.

To celebrate the launch of its crypto trading services, from until (both dates inclusive), individual customers who have activated the Crypto Trading Service with ZA Bank can enjoy a $0 commission offer.

This development marks a crucial step forward in Hong Kong's ambition to become a global crypto center, balancing innovation with robust regulatory oversight. The new crypto licensing regime and ZA Bank's approval are expected to attract further investment and development within the digital asset space in the region.