ZA Bank, a virtual bank in Hong Kong, plans to launch a “next-gen-ready” wealth product as part of its future offerings, according to Alternate Chief Executive Calvin Ng.
It is the first digital bank in Hong Kong to achieve monthly profitability four years after launching its operations.
The other seven virtual banks operating in Hong Kong include Airstar Bank, Ant Bank, Fusion Bank, Livi Bank, Mox Bank, Ping An OneConnect Bank, and WeLab Bank.
ZA Bank reported a 46% year-on-year increase in net revenue, supported by steady growth and improved operational efficiency.
The bank continues to expand its services, now actively supporting both retail and business clients, including Web 3.0 companies, virtual asset trading platforms (VATPs), and stablecoin issuers.
Recent product developments include an interest booster linked to physical activity, a high-interest savings option, and a simple fund parking service.
ZA Bank also introduced a stock rewards program and an investment funds service, with 8 out of 10 users reporting profits and customers saving over HKD 300 million in subscription fees.
Featured image credit: Edited from Freepik
