Banks Clients in Hong Kong Prefer Cryptocurrency Accessibility Through Established Financial Institutions, According to ZA Bank Survey Results
Banks Embrace Cryptocurrency: A Global Overview
The world of banking is slowly but surely integrating cryptocurrencies into their offerings, with Switzerland, Germany, and the United States leading the charge.
Switzerland remains one of the most crypto-friendly jurisdictions, offering a wide range of services including custody, trading, and even integrated crypto-asset management. Swiss banks operate under clear regulatory frameworks that support innovation and investor protection, making Switzerland a hub for extensive crypto bank integration.
Germany has adopted a supportive but cautious stance towards cryptocurrencies. German banks provide cryptocurrency services primarily through licensed crypto custody and trading partnerships. Regulatory certainty has improved following BaFin’s (Federal Financial Supervisory Authority) clear guidance on crypto-assets as financial instruments, allowing banks to offer crypto safekeeping and trading for retail clients, often with rigorous compliance and consumer protection requirements.
United States shows a rapid but uneven evolution in the adoption of cryptocurrencies. About half of the largest US banks now actively offer or develop Bitcoin-related services, including trading, custody, and Bitcoin rewards programs for retail clients. However, access can depend on client wealth levels, with some banks limiting crypto services to high-net-worth individuals. Regulatory complexity from multiple agencies including FinCEN—focusing on risks like money laundering—and the SEC slows broader uniform adoption. Banks like JPMorgan Chase have launched retail Bitcoin trading access, while others like Charles Schwab and State Street plan integration of Bitcoin into client offerings. The focus also includes growing compliance measures for cryptocurrency kiosks and AML controls.
Meanwhile, the UK is reopening retail access to regulated crypto exchange-traded notes (cETNs) through FCA-approved venues starting October 2025, reflecting a measured approach focusing on consumer protection while permitting structured crypto exposure.
In Asia, ZA Bank, controlled by China's ZhongAn Insurance, has made a significant stride by becoming the first Asian bank to launch a digital asset service for retail clients. A survey among its clients revealed strong appreciation for access to cryptocurrencies via the bank. More than three quarters of respondents wish to see a wider range of cryptocurrencies supported, and 81% want the ability to directly transfer their cryptocurrencies in and out of their accounts.
However, the partnership with crypto specialists may imply higher risks for clients than they might expect. Regulator scrutiny over the past couple of years prevented the launch of these cryptocurrency offerings in the United States. Respondents also expressed a desire to use mainstream stablecoins such as Tether and USDC.
As of mid-2025, banks' offerings of cryptocurrency services to retail clients vary significantly by jurisdiction, reflecting differing regulatory approaches. Banks and regulators continue to navigate balancing innovation, consumer protection, and financial crime prevention.
Read also:
- Show a modicum of decency, truly
- Latest updates for July 31: Introduction of Ather 450S with expanded battery, unveiling of new Tesla dealership, and additional news
- VinFast's debut EV plant in India, Tata Harrier EV distribution starts, next-gen Mahindra Bolero sightings caught on camera
- Tesla-powered residences in Houston create a buyers' frenzy
