Search Results for: Hong Kong Deposit Protection Scheme

Digital Banking: Hong Kong’s WeLab Bank Reports Steady Business Growth

WeLab Bank announced its achievement of first-time breakeven in Dec of 2024 – which is just over 4 years after its establishment. This milestone exemplifies WeLab Bankā€™s ability to achieve profitability “at a pace faster than anticipated.” As mentioned in the announcement, the accomplishment was… Read More

Hong Kong’s Central Bank Warns Crypto Firms Misrepresenting Themselves as Banks

The Hong Kong Monetary Authority (HKMA) has issued a public advisory warning against crypto businesses that are presenting themselves as “banks” or labeling their products as “deposits”. The regulatory body emphasizes that such misrepresentations may violate the Banking Ordinance. There have been instances of crypto… Read More

Virtual Bank: Airstar Bank Launches Pilot in Hong Kong

Airstar Bank Limited, a licensed virtual bank in Hong Kong, has announced the launch of a pilot trial. The pilot is being conducted under the watchful eye of the Hong Kong Monetary Authority’s Fintech Supervisory Sandbox. Airstar is a joint venture between Xiaomi Corporation (1810.HK)… Read More

Monetary Authority of Singapore Shares Fintech Award Shortlist

The Monetary Authority of Singapore (MAS) has announced 40 different firms have been shortlisted for the MAS Fintech Awards to be presented at this yearā€™s Singapore Fintech Festival x Singapore Week of Innovation and TeCHnology (SFF x SWITCH). The theme for this yearā€™s Awards is… Read More

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