Zhongan Bank opens an operating account for OKX Hong Kong and joins hands to support the development of Web3 in Hong Kong

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2023-11-01 12:33 (UTC+8)

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ZhongAn Banks operating account provides OKX Hong Kong with basic commercial banking services to meet its daily banking needs.

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ZhongAn Banks operating account provides OKX Hong Kong with basic commercial banking services to meet its daily banking needs.

On November 1, 2023, Hong Kong virtual bank ZhongAn Bank, together with virtual asset exchange and Web3 technology company OKX, announced today that the bank has opened an operating account for OKX Hong Kong.

ZhongAn Bank’s operating account provides OKX Hong Kong with basic commercial banking services to meet its daily banking needs. This move further supports OKX Hong Kong’s application for a Virtual Asset Trading Platform (VATP) license from the Securities and Futures Commission (“SFC”) under the Amended Anti-Money Laundering and Counter-Terrorist Financing Ordinance, as well as its application for a Virtual Asset Trading Platform (VATP) license under the Securities and Futures Ordinance. 》Plan to apply for Category 1 and Category 7 licenses.

Xian Diyun, Vice President of Zhongan Bank, said: As OKX continues to expand its business in Hong Kong, we are pleased to become its trusted banking partner, confirming that we have taken a new step towards realizing the vision of Banking for Web3. We look forward to working with OKX works closely to support Hong Kong in fostering a healthy and vibrant Web3 ecosystem under the new VATP licensing system.

Earlier this year, ZhongAn Bank announced its determination to become the preferred banking partner for licensed VATP and Web3 companies regulated by the Securities and Futures Commission to support the SAR government’s vision of developing Hong Kong into a world-leading Web3 technology hub.

OKX Global Chief Commercial Officer Jimmy Lai said: As Hong Kong gradually transforms into a leading international center for Web3 and virtual assets, industry cooperation and bank relationships are crucial. By working together with Zhongan Bank, we aim to promote virtual assets in Hong Kong. The development and popularization of applications in the asset field, including jointly organizing investor education activities.”

OKX announced the establishment of OKX Hong Kong in March and intends to apply for VATP-related licenses.