Which Hong Kong Banks Are Most Crypto-Friendly in 2025?

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In recent years, Hong Kong has emerged as a forward-thinking hub for digital assets, embracing cryptocurrency with clear regulations and growing institutional support. As the city officially legalized retail crypto trading from June 1, 2023, investors — both local and international — are increasingly asking: Which Hong Kong banks are most crypto-friendly?

Choosing a reliable exchange is just one part of the equation. Equally important is selecting a bank that allows smooth fiat-to-crypto on-ramps without freezing accounts or restricting transactions. While mainland Chinese banks often freeze accounts linked to crypto activity, Hong Kong offers more flexibility — but not all banks are created equal.

This guide breaks down the top Hong Kong banks that support cryptocurrency-related activities with minimal friction, helping you make informed decisions in 2025.

Top Crypto-Friendly Banks in Hong Kong

When it comes to banking for crypto traders and investors, three institutions stand out for their openness, digital innovation, and low risk of account restrictions: ZA Bank, ZhongAn Bank, and HSBC Hong Kong.

These banks combine regulatory compliance with modern fintech capabilities, making them ideal partners for those navigating the evolving crypto landscape.

ZA Bank – Built for the Digital Age

ZA Bank is one of Hong Kong’s pioneering virtual banks, fully licensed by the Hong Kong Monetary Authority (HKMA). As a tech-driven institution, ZA Bank removes traditional banking barriers by offering seamless online onboarding, instant account setup, and round-the-clock customer service.

The platform supports a full suite of financial services — including deposits, transfers, foreign exchange, loans, insurance, and investment products — all accessible through an intuitive mobile app. For crypto users, this means easier integration with digital asset platforms and fewer restrictions on outbound payments.

ZA Bank’s strong compliance framework ensures security while maintaining flexibility for legitimate crypto transactions. Its 24/7 support and user-centric design make it a top choice for tech-savvy investors exploring blockchain-based finance.

👉 Discover how to securely link your bank to global crypto platforms.

ZhongAn Bank – Hong Kong’s First All-Digital Bank

ZhongAn Bank (also known as ZA Bank in some contexts) was co-founded by ZhongAn Online and Bestore Holdings, receiving its virtual banking license from the HKMA on March 27, 2019. It holds the distinction of being Hong Kong’s first fully digital bank.

As a member of the Hong Kong Deposit Protection Scheme, ZhongAn Bank safeguards eligible deposits up to HK$500,000 per depositor. The bank adheres to the same rigorous regulatory standards as traditional financial institutions, ensuring safety without sacrificing innovation.

Its digital-first model allows users to open accounts remotely, manage finances via smartphone, and conduct cross-border transactions efficiently — features that align well with the needs of crypto traders who value speed and accessibility.

While ZhongAn does not directly offer crypto trading, it maintains a neutral stance toward verified crypto-related transactions, provided they comply with anti-money laundering (AML) and know-your-customer (KYC) requirements.

HSBC Hong Kong – Global Reach with Low Freeze Risk

HSBC (Hongkong and Shanghai Banking Corporation) is one of the world’s largest banking and financial services organizations. Headquartered in London, HSBC plays a pivotal role in Hong Kong’s financial ecosystem — even co-issuing Hong Kong dollar banknotes alongside Standard Chartered and Bank of China (Hong Kong).

For crypto users, HSBC stands out due to its relatively low account freeze rate compared to other major banks. While it doesn’t promote crypto services directly, HSBC Hong Kong generally allows customers to engage in regulated digital asset activities through licensed exchanges.

Its global infrastructure supports international transfers, making it easier to fund overseas crypto accounts or receive proceeds from sales. However, users should maintain transparent transaction records and avoid suspicious patterns to stay compliant.

HSBC’s conservative approach means it may scrutinize high-volume or frequent crypto-related transfers — but overall, it remains one of the safest mainstream options for traders seeking stability and wide acceptance.

Is Cryptocurrency Legal in Hong Kong?

Yes — cryptocurrency is legal in Hong Kong, especially since the implementation of comprehensive regulations starting June 1, 2023.

Under the new framework introduced by the Securities and Futures Commission (SFC), Virtual Asset Service Providers (VASPs) must obtain a license to operate legally in the region. This includes crypto exchanges offering services to retail investors.

Licensed platforms can now list major digital assets like Bitcoin (BTC) and Ethereum (ETH) for public trading. The move signals Hong Kong’s intent to become a regulated crypto hub — particularly attractive amid tightening U.S. enforcement actions.

The city’s clear regulatory roadmap has drawn major players like Binance and Huobi Global, both exploring expanded operations in the region. Even OKX has announced plans to apply for a VASP license, reinforcing confidence in Hong Kong’s pro-innovation stance.

This shift positions Hong Kong as a digital asset safe haven at a time when other markets face uncertainty following events like the FTX collapse and increased scrutiny from American regulators.

👉 Learn how licensed exchanges are shaping the future of crypto in Asia.

Frequently Asked Questions (FAQs)

Q: Can I use any Hong Kong bank for crypto transactions?
A: Not all banks allow crypto-related activity. While ZA Bank, ZhongAn, and HSBC are more tolerant, others may freeze accounts without warning. Always confirm policies before linking your bank to an exchange.

Q: Will my account be frozen if I buy crypto?
A: Accounts are typically only frozen if there’s suspicious or non-compliant behavior — such as large unexplained transfers or use of unlicensed platforms. Using SFC-licensed exchanges reduces this risk significantly.

Q: Do I need to declare crypto earnings to Hong Kong authorities?
A: Currently, capital gains from crypto trading are not taxed in Hong Kong. However, businesses or professional traders may be subject to profit tax. Always consult a tax advisor for personalized guidance.

Q: Can mainland Chinese citizens open accounts with these banks?
A: Yes, under certain conditions. Many virtual banks accept non-residents and mainland applicants, though additional documentation may be required. Check eligibility criteria on each bank’s official website.

Q: Are stablecoins regulated in Hong Kong?
A: Yes. The government is actively developing a regulatory framework for stablecoins and other virtual assets to ensure financial stability and consumer protection.

Final Tips for Crypto Users in Hong Kong

Even if a bank is considered "crypto-friendly," users must still follow strict compliance protocols:

Regulations evolve quickly. What’s acceptable today might change tomorrow — so staying informed is critical.

👉 Stay ahead with real-time updates from compliant global crypto platforms.

Core Keywords

By aligning your banking choices with compliant platforms and understanding the regulatory environment, you can safely navigate Hong Kong’s thriving crypto ecosystem in 2025 and beyond.