Hong Kong bank embraces stablecoin issuers
The Hong Kong virtual bank aims to push forward its presence in the Web3 industry by allowing local stablecoin issues access to secure fiat reserve solutions.
In a move poised to accelerate local Web3 adoption, Hong Kong’s ZA Bank has announced it will offer dedicated banking services for stablecoin issuers.
According to the announcement on April 5, the Hong Kong-based virtual bank is opening up security for fiat reserves which issuers can use to back digital assets.
Stablecoin issuers will also have access to banking services such as fund transfers, payroll management and various deposit options.
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