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CZ Says He Expects More Funds to Move to Hong Kong

Binance CEO Changpeng Zhao believes more funds will move to Hong Kong as banks in the region support crypto. Hong Kong virtual bank ZA Bank has said it will offer token-to-fiat currency conversions for licensed exchanges, acting as a settlement partner for exchanges, allowing customers to withdraw US dollars, yuan, and Hong Kong dollars. Currently, only exchanges licensed in Hong Kong can use this service, but the bank expects more exchanges to join in as they obtain licenses from the regulator. Hong Kong is positioning itself as a crypto hub in Asia and has been making efforts in that direction, legalizing crypto trading and opening a consultation service to help regulate crypto exchanges.

(By Oluwapelumi Adejumo)

Hong Kong Crypto
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