7 in 10 Hong Kongers pick digital banks for crypto trading on convenience, regulatory concerns

They like the convenience of being able to trade directly using an existing digital bank app.

About 7 in 10 Hong Kongers choose to use digital banks for crypto trading due to the convenience of directly trading with bank deposits.

In a survey of 300 retail customers, Hong Kong’s ZA Bank found that 69% of respondents cited the convenience of trading directly with bank deposits without the need for additional fiat transfers as a key attraction.

Meanwhile, 68% said that they value the ability to trade directly using an existing digital bank app helps eliminate the hassle

Over 75% of respondents said that they trust banks for their strengths in fund security, risk control, and fraud prevention.

About 6 in 10 or 63% said that they appreciate the regulatory compliance digital banks offer, making transactions more secure and reliable

ZA Bank also found that nearly 70% of respondents believe the increasing regulatory clarity in the cryptocurrency market will help attract more participants and expand the overall investor base and liquidity pool.

Additionally, 60% said that regulation enhances market transparency, reduces illicit activity, and lowers trading risks, ultimately providing better protection for investors.

As for services, over 8 in 10 (81%) of respondents said that they want support for crypto-in-crypto-out transactions to enhance asset flexibility.

Meanwhile, 76% hope to see a wider range of mainstream cryptocurrencies with high liquidity introduced to the Hong Kong market; whilst 70% expect platforms to support stablecoins (USDT, USDC).

However, 8 in 10 (80%) are concerned about trading fees, and said they hope digital banks will optimise fee structures to enhance the overall trading experience