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29 Mar | Consultation

FTAHK welcomes HKMA's issuance of Virtual Banking Licences

Hong Kong - March 29, 2019 - This week, the Hong Kong Monetary Authority (HKMA) issued the first round of virtual banking licenses to Livi VB Limited, SC Digital Solutions Limited and ZhongAn Virtual Finance Limited, a significant milestone in the evolution of Hong Kong’s FinTech ecosystem.

Henri Arslanian, Chairman, FinTech Association of Hong Kong, comments on the Hong Kong Monetary Authority issuing the first batch of virtual banking licenses:

“The FinTech community of Hong Kong welcomes today’s announcement. It is another example of the important positive role that regulators can play in catalysing the evolution of the financial services industry.”

For full response: FTAHK_Virtual_Banking_Announcement_Comment_27.3.19-1.pdf

 

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