ZA Bank has released its mid-year performance results, showing a remarkable 43% rise in total assets, reaching HKD 20 billion as of June 30, 2024, according to Odaily. This achievement makes ZA Bank the first digital bank in Hong Kong to report monthly profitability. Public records reveal that the bank has experienced a 60% surge in new account openings, now serving over 800,000 customers, which represents 13% of the bankable population in Hong Kong. Notably, more than half of these users have designated ZA Bank as their primary receiving bank for the Faster Payment System (FPS). The bank has also captured a 25% market penetration among the younger Generation Z demographic.

In addition, following the Hong Kong Monetary Authority’s announcement regarding participants in the stablecoin issuer sandbox, ZA Bank has positioned itself as the first local digital bank to provide specialized reserve banking services for stablecoin issuers, making it one of the pioneering banks in Hong Kong to offer such services.