ZA Bank has received approval from the Securities and Futures Commission of Hong Kong to launch trading services such as US stocks and ETFs
On November 23, Hong Kong virtual bank ZA Bank announced that it has been approved by the Securities and Futures Commission (SFC) of Hong Kong to lift the conditions applicable to regulated activities for Type 1 (securities trading) when it was originally licensed.
This means that ZA Bank will not be limited to operating the business of "Collective Investment Scheme (CIS)", and plans to launch trading services such as US stocks, exchange-traded funds (ETFs) and American Depositary Receipts (ADRs) to the public after completing service testing in a timely manner.
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