Hong Kong ZhongAn Bank will provide exclusive account services for stablecoin issuers

ChainCatcher news, according to reports, Hong Kong virtual bank ZA Bank announced that it will be the first to provide exclusive banking services to stablecoin issuers, ensuring the security of their fiat currency reserves.

According to ZA Bank, in 2023, the bank processed transfer transactions exceeding 1 billion USD for Web3 corporate clients, serving 80% of virtual asset trading platforms (VATP) in Hong Kong, and has provided services to over 100 well-known Web3 companies in various fields.