ZhongAn Bank appoints Wu Zhonghao as CEO, who led the application for Hong Kong digital bank license

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According to Foresight News, ZA Bank today announced that Calvin Ng will officially be appointed as Chief Executive Officer starting from March 27, 2025. Calvin Ng has served as an executive director since September 2022 and is a founding team member who led the digital banking license application, business implementation, and retail strategy planning in Hong Kong. The previous CEO, Ronald, has stepped down.

ZA Bank became the first licensed bank in Asia to offer cryptocurrency trading services for retail users in November 2024, allowing customers to directly buy and sell Bitcoin and Ethereum using Hong Kong dollars or US dollars, with a minimum transaction threshold of $70 or 600 Hong Kong dollars. The service is in collaboration with licensed exchange HT, integrating custody, clearing, and other technologies, and ensuring compliance through risk assessment and asset proportion restrictions (maximum 20% of total investment).

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