The scheme aims to nurture fintech talent by allowing post-secondary students to gain practical experience at fintech firms across the Greater Bay Area.
October 31, 2023FSC vice chairman Kim So-young said Korean firms should try to obtain licences under Thailand's virtual banks framework, which will be finalised in H2 2023,
September 28, 2023With the new licence, Mox Bank will start piloting Hong Kong and US equity trading services in the HKMA sandbox "soon".
June 21, 2023The consultation paper clarifies expectations for virtual banks to stimulate healthy competition and elaborates on the key qualifications of applicants.
June 20, 2023ZA Bank and Mox Bank have the largest customer bases. None of the eight virtual banks are profitable yet, but their losses have mostly narrowed.
May 3, 2023The BOT said it received "helpful" consultative feedback and now needs more time to clarify the licensing conditions and produce an application manual.
April 28, 2023Fusion Bank promises SMEs a "hassle-free" account opening experience and a six month exemption on fees for new accounts.
March 23, 2023Foreign shareholders can own up to 25% of a virtual bank. A BOT waiver raises this to a 49% limit. Three licences will be granted next year.
January 13, 2023ZA Bank will offer a “hassle-free service to users, without worrying about any foreign exchange markup, hidden charges and transfer progress."
November 24, 2022The syndicate members processed the funds through more than 20 online bank accounts since 2021, police said.
May 17, 2022