Mox Bank Launches Virtual Banking Services in Hong Kong

Mox Bank, backed by Standard Chartered, PCCW, HKT and Ctrip Financial, is first opening accounts for its 20,000 pre-registrants before it opens to the rest of the public.

22 September 2020 – Mox announces full public launch.

Mox Bank on Wednesday (9 September) became the latest virtual bank to launch services in Hong Kong, having been among the first set of licences awarded by the HKMA (Hong Kong Monetary Authority) last March.

Mox – backed by Standard Chartered, PCCW, HKT and Ctrip Financial – launched pilot services in April, saying it would undergo beta testing and launch with the introduction of an all-in-one numberless bank card.

As part of its official launch, Mox has started inviting pre-registrants who had earlier signed up on its waitlist to open their accounts in phases, starting with the first 3,000 pre-registrants, who will received a “limited-edition metal Mox Card” upon successful account opening.

Once all 20,000 pre-registrants have been invited, Mox will be available to the rest of the public.

Mox Bank’s launch follows the launch of full operations at Livi Bank (by BOCHK, JD Digits, Jardine Matheson) in August, WeLab Bank in July, and ZA Bank (by ZhongAn/Sinolink) and Airstar Bank (by Xiaomi/AMTD) in June.

Ping An OneConnect Bank (by OneConnect Financial Technology) has so far announced the launch of pilot virtual banking services, while Ant Bank (by Ant Financial) and Fusion Bank (by Tencent/ICBC/HKEX/Hillhouse Capital/Perfect Ridge) are said to be conducting trial runs.

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