Standard Chartered’s Virtual Bank Mox Announces the Launch of Trial Operations in Hong Kong

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Standard Chartered’s virtual bank Mox has just launched a trial run of its online services in Hong Kong.

Mox’s online banking services have been made available to a select group of external customers on an invitation-only basis, in preparation for an official launch in 2020.

These customers have obtained a digital Mox Card, and will have the opportunity to open zero-balance bank accounts for free.

Mox is backed by Standard Chartered in partnership with HKT, PCCW and Trip.com.

The online lender is one of eight virtual banks that grabbed licenses from the Hong Kong Monetary Authority (HKMA) in the first half of 2019,

ZA Bank, backed by insurtech giant ZhongAn Online P&C Insurance and property developer SinoLink Group, has already kicked off operations, although the COVID-19 outbreak has hampered the launch of Hong Kong’s other licensed virtual banks.

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