What Is A Virtual Bank In Hong Kong?
In this video, Bertrand Théaud, founder of Statrys, explains how virtual banks came to be in Hong Kong, their unique benefits, and how to choose the best virtual bank for your needs.
In Hong Kong, the term “virtual bank” has a specific legal meaning and it does not simply refer to any digital or online banking service.
In this video, Bertrand Théaud, founder of Statrys, explains what a virtual bank is under Hong Kong regulation, why the Hong Kong authorities introduced a dedicated virtual banking licence, and how virtual banks differ from traditional banks that offer online banking.
Bertrand also clarifies a common question from clients by explaining why Statrys is neither a traditional bank nor a virtual bank, and where it fits within Hong Kong’s financial ecosystem.
Key Takeaways
- What “virtual bank” means in Hong Kong and how it differs from online banking
- Why Hong Kong introduced virtual banking licences and when they were launched
- Which virtual banks operate in Hong Kong and what types of accounts they offer
- Key eligibility considerations for opening a virtual bank business account
- How virtual banks compare to traditional banks in terms of cost, access, and risk controls
- Where Statrys fits in, and how it differs from both virtual and traditional banks
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