ZA Bank secures HK SFC’s permission to launch US stock trading
The addition of U.S. stock trading services will provide users access to the world’s largest stock market by capitalization, offering opportunities to invest in globally influential companies. This move is a significant step in ZA Bank’s commitment to developing a comprehensive digital finance platform.
The Hong Kong Securities and Futures Commission (SFC) has revised ZA Bank’s license registration. Previously, ZA Bank’s Type 1 license (dealing in securities) was limited to dealing in collective investment schemes. Now, this restriction has been lifted.
Acclaimed as ‘Asia’s Top Mobile Banking App and Hong Kong’s Virtual Bank of the Year – Consumer’, ZA Bank now plans to introduce U.S. stock trading services after completing its pilot trial.
This expansion will allow ZA Bank users to invest in a wide range of U.S. market instruments, including stocks, ETFs, and ADRs, directly through the ZA Bank App. Emphasizing its strong technological foundation, ZA Bank aims to offer these services with minimal fees and instant investment account opening for eligible users.
ZA Bank to add U.S. stock trading in due course
Ronald Iu, CEO of ZA Bank, shared the bank’s vision of being a future bank for the present, focused on empowering users to achieve financial goals with ease. The addition of U.S. stock trading services will provide users access to the world’s largest stock market by capitalization, offering opportunities to invest in globally influential companies. This move is a significant step in ZA Bank’s commitment to developing a comprehensive digital finance platform.
“ZA Bank aspires to build a future bank for now, one that empowers users to achieve their financial goals with ease and convenience. We are excited to add U.S. stock trading services to our product suite in due course. With exposure to the world’s largest stock market in terms of capitalization, users can capture the growth potential in some of the most valuable and influential companies across the globe. This marks another key milestone for ZA Bank in our commitment to creating a one-stop digital finance platform for users.”
ZA Bank, trusted by over 700,000 users, has been enhancing its investment services. Since launching investment fund services in August 2022, it has collaborated with top international fund managers like AllianceBernstein, Allianz Global Investors, and J.P. Morgan Asset Management. The bank has successfully introduced over 100 investment fund products, witnessing an eightfold increase in total assets under management since the beginning of the year.