ZA Bank, a pioneering virtual bank based in Hong Kong, has announced its plans to introduce cash custody accounts specifically designed for institutions keen on issuing stablecoins.

The initiative aims to cater to the growing interest and demand within the fintech sector for stable digital currencies.

Currently, ZA Bank is actively engaging in discussions with numerous entities interested in launching their own stablecoins.

The provision of these specialised custody accounts will become operational once ZA Bank secures the necessary licensing approvals from the Hong Kong Monetary Authority (HKMA), signaling a significant step towards bolstering the infrastructure required for the secure and regulated issuance of stablecoins in the region.