Hong Kong ZhongAn Bank will provide cryptocurrency-to-fiat currency exchange services through a licensed trading platform.

According to BlockBeats news on April 12th, Ronald Iu, CEO of ZA Bank in Hong Kong, stated in an interview on Tuesday that ZA Bank will provide exchange services for cryptocurrencies to fiat currency through a licensed trading platform. As the settlement bank for customers, ZA Bank will allow them to deposit cryptocurrencies on the trading platform and withdraw in Hong Kong, mainland China, and the United States. Ronald Iu also stated that this business model has already been operating with HashKey and OSL, which are the only two licensed cryptocurrency trading platforms in Hong Kong. ZA Bank will also provide the same services to other licensed trading platforms.