On November 1, 2023, Hong Kong virtual bank Zhongan Bank announced that it has opened an operational account for OKX Hong Kong, a virtual asset exchange and Web3 technology company.

Zhongan Bank's operational account provides basic commercial banking services to OKX Hong Kong to meet its daily banking and financial management needs. This move further supports OKX Hong Kong's plans to apply for a virtual asset trading platform (VATP) license under the revised Anti-Money Laundering and Counter-Terrorist Financing Ordinance, as well as to apply for Type 1 and Type 7 licenses under the Securities and Futures Ordinance, as regulated by the Securities and Futures Commission.

Xian Diyun, Vice President of Zhongan Bank, stated, "As OKX continues to expand its business in Hong Kong, we are pleased to become its trusted banking partner, confirming our progress towards realizing the 'Banking for Web3' vision. We look forward to working closely with OKX to jointly support the nurturing of a healthy and vibrant Web3 ecosystem under the new VATP licensing regime in Hong Kong."

Earlier this year, Zhongan Bank announced its determination to become the preferred banking partner for licensed VATP and Web3 enterprises regulated by the Securities and Futures Commission, in support of the government's vision to develop Hong Kong into a leading global hub for Web3 technology.

OKX Global Chief Business Officer Andy Cheung stated, "As Hong Kong gradually transforms into a leading international center for Web3 and virtual assets, industry partnerships and banking relationships are crucial. Through our collaboration with Zhongan Bank, our goal is to promote the development and widespread application of virtual assets in Hong Kong, including jointly organizing investor education activities."

In March, OKX announced the establishment of OKX Hong Kong and its intention to apply for relevant VATP licenses.

(From left) Xian Diyun, Vice President of Zhongan Bank, and Andy Cheung, OKX Global Chief Business Officer

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