Hong Kong has long been recognized as a leading international financial hub, known for its open, innovative, and highly regulated financial ecosystem. As digital assets gain mainstream traction, USDT (Tether) — the world’s most widely used stablecoin — has become increasingly popular among investors seeking stability in volatile crypto markets. With the Hong Kong government formalizing its regulatory framework for virtual assets in recent years, including the legalization of retail cryptocurrency trading under licensed platforms, demand for seamless USDT banking integration has surged.
But one pressing question remains: Which banks in Hong Kong support USDT transactions? While traditional banks don’t directly handle USDT trading, many collaborate with licensed crypto exchanges or offer banking services to individuals and businesses active in the digital asset space. Below is a comprehensive overview of 8 financial institutions in Hong Kong that either support crypto-friendly services or are commonly used by USDT traders.
👉 Discover how to securely manage your USDT transactions through compliant financial channels.
Banks in Hong Kong Commonly Used for USDT-Related Transactions
While no bank in Hong Kong allows direct purchase or sale of USDT at a teller or ATM, several institutions — especially virtual banks — provide infrastructure ideal for crypto users who need to deposit, withdraw, or transfer fiat proceeds from USDT trades. Here are eight key players:
1. ZA Bank (众安银行)
ZA Bank is Hong Kong’s first and largest virtual bank, fully licensed by the Hong Kong Monetary Authority (HKMA). As a digital-first institution, it offers seamless integration with mobile banking, fast interbank transfers, and support for fintech partnerships — making it a top choice for crypto traders.
Services include:
- Instant HKD transfers via FPS (Faster Payment System)
- High-interest savings accounts
- Integration with investment platforms
Many users convert USDT to HKD on regulated exchanges like OKX and then transfer funds directly to their ZA Bank account for daily use or further investment.
2. Standard Chartered Bank (渣打银行)
A pillar of Hong Kong’s banking sector, Standard Chartered is one of the three note-issuing banks in the region and serves as a major gateway for international finance. While it does not directly support cryptocurrency trading, it allows account holders to receive HKD deposits originating from crypto exchanges.
Important notes:
- Does not support mainland Chinese ID holders for certain accounts
- Maintains strict anti-money laundering (AML) policies
- Monitors large or frequent inflows from known exchange addresses
Despite these restrictions, its robust global network makes it a preferred option for professional traders managing cross-border crypto-fiat flows.
3. Hui Li Bank (汇力)
⚠️ Note: Hui Li refers to a mainland China-based mining company headquartered in Hami, Xinjiang, primarily involved in nickel and copper mining. It is not a licensed bank in Hong Kong, nor does it offer banking or financial services related to USDT or digital assets.
This appears to be a misclassification in the original content. Investors should avoid confusion between industrial firms and regulated financial institutions.
4. Airstar Bank (天星银行)
Jointly established by Xiaomi Group and AMTD Group, Airstar Bank is a fully licensed virtual bank offering digital-first financial services. Its integration with Xiaomi’s ecosystem enables smooth mobile payments and fast fund settlements — ideal for users converting USDT to fiat.
Key features:
- Zero account opening fees
- Supports FPS transfers
- Optimized for mobile users and tech-savvy investors
Traders often use Airstar accounts to receive HKD after selling USDT on compliant exchanges.
5. ANEXT Bank (蚂蚁银行)
Formerly Ant Bank (Hong Kong), ANEXT Bank is backed by Alibaba-affiliated financial technology infrastructure and integrates directly with AlipayHK. This creates a powerful bridge between digital wallets and crypto-to-fiat conversion.
Benefits for crypto users:
- Direct linkage with AlipayHK for spending
- Fast deposits from regulated exchanges
- User-friendly interface for retail investors
It's particularly popular among younger investors who already use AlipayHK for daily transactions.
6. Fubon Bank (富融银行)
Fubon Bank is a licensed virtual bank and member of Hong Kong’s Deposit Protection Scheme, insuring up to HKD 500,000 per depositor. Its strong compliance framework makes it acceptable to crypto exchanges for outbound fiat settlements.
Why traders choose Fubon:
- Regulatory credibility
- Secure and efficient HKD transfers
- No minimum balance requirements
👉 Learn how top-tier virtual banks are shaping the future of crypto-fiat integration.
7. Ping An OneConnect Bank (平安壹账通)
Focused on serving small and medium-sized enterprises (SMEs), OneConnect Bank provides digital banking solutions tailored for business clients — including those operating in blockchain and fintech sectors.
Relevant services:
- Business account management
- Streamlined corporate banking
- Support for tech-driven financial operations
However, similar to Standard Chartered, it does not accept mainland Chinese identity documents for personal accounts, which may limit accessibility for some users.
8. Livi Bank (理惠银行)
Livi Bank is Hong Kong’s fourth virtual bank, co-owned by Bank of China (Hong Kong), JD Digits, and Jardine Matheson. It offers modern banking tools such as QR code cash withdrawals and contactless payments.
Advantages for crypto users:
- Backed by reputable financial institutions
- No minimum deposit required
- Real-time transfers via FPS
Its affiliation with BOCHK adds an extra layer of trust, making it a solid option for storing HKD received from USDT sales.
Is USDT Legal in Hong Kong?
Yes — USDT is legally recognized in Hong Kong as a form of digital asset when traded through SFC-licensed platforms. The Securities and Futures Commission (SFC) regulates all retail crypto trading activities and requires exchanges to comply with strict licensing, custody, and investor protection standards.
Key points:
- USDT is considered a regulated stablecoin
- Trading must occur on authorized exchanges
- Investors must complete KYC verification
- Daily ATM withdrawal limits apply: HKD 10,000–100,000, depending on the bank
For example, after selling USDT on a compliant exchange like OKX, users can transfer HKD directly to their local bank account via FPS. From there, they can withdraw cash at ATMs — though daily limits typically cap at HKD 100,000 per card.
Frequently Asked Questions (FAQ)
Q: Can I buy USDT directly at a Hong Kong bank?
A: No bank in Hong Kong allows direct purchase of USDT at branches or ATMs. You must use an SFC-licensed crypto exchange to buy or sell USDT.
Q: Can I deposit USDT into my Hong Kong bank account?
A: Not directly. USDT is a blockchain token; only HKD or other fiat currencies can be deposited into bank accounts. You must first convert USDT to HKD on a compliant exchange before transferring funds.
Q: Are there ATM limits when withdrawing HKD from USDT sales?
A: Yes. Most banks impose daily ATM withdrawal limits ranging from HKD 10,000 to HKD 100,000 per card. Check with your specific bank for exact thresholds.
Q: Do Hong Kong banks block crypto-related transactions?
A: Some banks may flag or freeze accounts with suspicious activity. To avoid issues, always use licensed exchanges and maintain transparent transaction records.
Q: Which virtual banks are most crypto-friendly in Hong Kong?
A: ZA Bank, Airstar Bank, ANEXT Bank, and Livi Bank are among the most compatible due to their digital infrastructure and support for fast FPS transfers.
Q: Can mainland Chinese citizens open crypto-friendly bank accounts in Hong Kong?
A: Yes, but eligibility varies by bank. ZA Bank and ANEXT generally accept mainland IDs with proper documentation, while others like Standard Chartered and OneConnect do not support mainland identities for personal accounts.
👉 See how licensed platforms ensure safe and legal USDT transactions in Hong Kong.
Final Thoughts
While traditional banks in Hong Kong do not facilitate direct USDT trading, the city’s progressive regulatory environment and advanced virtual banking sector create a conducive ecosystem for crypto-fiat conversion. By using SFC-regulated exchanges and pairing them with crypto-friendly virtual banks, investors can efficiently manage their USDT holdings within full legal compliance.
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As the market evolves, staying informed about regulatory updates and choosing compliant financial partners will remain essential for secure and sustainable participation in the growing digital economy.