Hong Kong has handed out three virtual bank licences as city catches up with China, Japan. Photo: AFP
SCMP Editorial
Opinion

Opinion

Editorial by SCMP Editorial

Virtual banking calls for innovation from new talented players

  • As the concept finally arrives in Hong Kong, the city’s monetary authority has started to hand out licences via a process that risks screening out the most promising hopefuls

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Hong Kong has handed out three virtual bank licences as city catches up with China, Japan. Photo: AFP
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More licences are under process, the HKMA said on Wednesday. Photo: Winson Wong

Hong Kong hands out virtual bank licences as city catches up with China, Japan in disrupting bricks-and-mortar banking

  • Livi VB, SC Digital Solutions and Zhong An Virtual Finance to be the operators of first three licences
  • The three are among 33 financial service providers that applied for the virtual banking licence from the HKMA
Topic |   Fintech

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More licences are under process, the HKMA said on Wednesday. Photo: Winson Wong
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