Virtual Banking

ZA Bank Launches Banking Services for Stablecoin Issuers

ZA Bank has announced the launch of its dedicated banking services for stablecoin issuers, a significant advancement in its commitment to the Web3 financial sector. This service is designed to provide secure banking solutions for stablecoin issuers’ fiat reserves, further

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ZA Bank’s Risk Prevention Tech Thwarts HKD 4 Billion Fraud, Earns Award from Police

Hong Kong’s virtual bank ZA has reported a 400% improvement in its risk control and cybersecurity capabilities through the use of in-house developed systems. The bank’s proprietary systems now allow for real-time fraud monitoring of 100,000 transactions daily, a fourfold

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WeLab Digital Bank Unit in Indonesia Surpasses Half a Million Customers

Bank Saqu, the Indonesian digital bank developed through a strategic partnership between WeLab and Astra Financial, has reached the milestone of half a million new customers within the first three months of its operation. Simon Loong, Founder and Group CEO

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Mox Partners Wise to Launch New Remittance Offering

Mox Bank has launched Express Remit, a new service powered by Wise Platform, offering customers a streamlined and cost-effective way to transfer money internationally. This service enables Mox customers to transfer funds internationally directly through the Mox app, offering transactions

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Mox Bank Introduces Mox Invest for Enhanced Wealth Management

Mox Bank Limited has announced the rollout of Mox Invest, a new investment service available to its customers in Hong Kong. Mox Invest offers customers unprecedented access to the US and Hong Kong equities, as well as fund trading, setting

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Mox Bank Revises Savings Base Rate for HKD and USD Deposits

Mox Bank announces an update to its savings base rate, now offering a rate of 1.5 percent per annum for Hong Kong Dollar (HKD) deposits. This updated rate, which is 170 percent of the typical savings base rates of most

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Hong Kong Virtual Banks Struggle to Attract Deposits

Customer deposits are a critical pillar for virtual banks’ operations in Hong Kong, serving as a core foundation of their future growth and success. However, most Hong Kong virtual banks are facing challenges around their customer acquisition and deposit strategies,

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Mox Bank Offers U.S. and HK Stock Trading Through Beta Testing

Hong Kong’s virtual bank Mox has initiated a beta phase for its new investment service, Mox Invest. This initial phase sees the service being gradually introduced to existing customers through an invitation-only approach. Mox Invest offers the virtual bank’s users

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ZA Bank Gains Regulatory Nod to Offer U.S. Stock Trading in Hong Kong

Hong Kong’s ZA Bank has received regulatory clearance from the Securities and Futures Commission (SFC) to expand its services. This approval amends the bank’s existing license, allowing it to move beyond dealing in collective investment schemes. ZA Bank is set

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Bank Saqu Launches in Indonesia as WeLab’s Second Digital Bank in Asia

Hong Kong’s WeLab, in collaboration with Astra Financial, has launched Bank Saqu in Indonesia, marking its second digital banking venture in Asia. This new digital banking platform, operated by PT Bank Jasa Jakarta (BJJ), a joint venture between the two

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