|
Hong Kong’s SFC (Securities and Futures Commission) has granted Mox Bank a Type 1 (dealing in securities) licence, making it the first virtual bank in the city to receive such a licence. With the new licence, Mox Bank will start piloting Hong Kong and US equity trading services in the HKMA sandbox “soon” and will look to onboard customers in phases later this year.
The bank said customers will be able to open an investment account in “minutes” which will enable them to trade across Hong Kong and US securities, including US fractional securities.
Mox Bank launched in September 2020, after being granted one of eight virtual bank licences by the HKMA in March 2019.
The bank is co-owned by Standard Chartered, PCCW, HKT and Trip.com, and has the second-biggest client base all of Hong Kong's virtual banks.
Whatsapp : (852) 6499 4686 Phone : (852) 2186 6936 Email : info@intershores.hk
Disclaimer: Whilst reasonable care has been taken in provision of information above, it does not constitute legal or other professional advice. INTERSHORES does not accept any responsibility, legal or otherwise, for any error omission and accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, readers are advised to take appropriate professional advice before committing themselves to any involvement in jurisdictions, vehicles or practice.
|
|
