While China remains feverish about the use of cryptocurrencies, Hong Kong serves as a laboratory for the second economic power.

ZA BANK, the largest digital bank in Hong Kong has just authorized cryptocurrency trading directly via its application. Active since 2019, the platform has over 800,000 users. For now, users will have to settle for the Bitcoin and Ethereum market. On October 28 in an article on Publish0x I explained that Hong Kong Exchanges and Clearing announced to distribute several financial licenses for banks or exchange platforms in the territory of Hong Kong. More institutions are expected to follow by 2025, giving the Asian market a little more momentum. As the good news for the crypto ecosystem in Hong Kong seems to be going on, it could be that the momentum is continuing.

China is using Hong Kong as a laboratory for its monetary policy, and it is likely that if the project is successful, China will be able to explore the possibility of extending this to the rest of its territory. However, this seems unlikely in the short or medium term.