ZA Bank has announced the launch of its dedicated banking services for stablecoin issuers, a significant advancement in its commitment to the Web3 financial sector.
This service is designed to provide secure banking solutions for stablecoin issuers’ fiat reserves, further enhancing the safety and reliability of Web3 financial transactions.
Throughout 2023, ZA Bank reported developments in the Web3 space, securing its position in this sector. The bank noted a transfer turnover surpassing US$1 billion from Web3 clients, meeting the banking needs of over 80 percent of Virtual Asset Trading Platform (VATP) clients in Hong Kong, and establishing partnerships with over 100 Web3 companies.
Devon Sin
“Our commitment to stablecoin issuers is a testament to our dedication to the Web3 ecosystem. The past year has seen ZA Bank emerge as the unrivalled pioneer in Web3 banking,”
said ZA Bank Alternate Chief Executive Devon Sin on the new banking services tailored for stablecoin issuers.
“With our new dedicated client accounts, we are tackling the unique challenges of stablecoin issuers head-on, promoting the growth and stability of the Web3 economy,”
Devon added.
Featured image credit: Edited from ZA Bank