Fusion Bank has become the last virtual bank to officially open for business among the eight companies granted virtual banking licenses in Hong Kong last year, according to its Monday statement, reported Caixin.
Backed by internet giant Tencent Holdings, Fusion Bank is the first virtual bank in Hong Kong to connect with WeChat Pay, allowing customers to use their bank accounts to pay and receive money via Tencent’s ubiquitous mobile payment platform.
Fusion Bank also said it is Hong Kong’s first virtual lender to offer foreign exchange trading, which covers Hong Kong dollars, the Chinese RMB and US dollars.