8 virtual banks approved for Hong Kong
The Hong Kong Monetary Authority (HKMA) recently approved eight virtual banking licence recipients, opening the door for fintech companies to enter the banking industry. Simon Hawkins, a counsel at Latham & Watkins in Hong Kong, told China Business Law Journal that virtual banks, like conventional “brick and mortar” banks, were subject to the Banking Ordinance, … Continue reading 8 virtual banks approved for Hong Kong
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