Currently, the application uses 2 thousand users
The new Hong Kong-based digital bank Airstar announced a trial run with its first 2,000 customers as part of Hong Kong’s Monetary Authority’s Regulatory Sandbox (HKMA).
For the beta testing period, the Nebank application is available to friends and relatives of eyebrows employees, as well as project sponsors Xiaomi Hong Kong and AMTD Group. Currently, customers can use remotely opened accounts and use free interbank transfers through instant payment systems and real-time gross settlements. Users can also open savings accounts and have access to products with unsecured loans, which are available on a daily basis with interest subsidies.
Airstar is one of eight digital banks licensed from HKMA last year. Due to neo-banks, the regulator plans to increase the level of development of innovative technologies and competition in the region’s banking sector.
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Earlier we wrote that the Central Bank of Singapore MAS (Monetary Authority of Singapore) has received 21 applications for digital banks licenses. So far, the financial regulator is preparing to issue five licenses. The selection results will be announced in June 2020, and from mid-2021, non-banks will be able to start work.
In addition, Icelandic Nobank Indo has applied for a banking license. If successful, Indo would be the first commercial financial company to receive such a license after the 2008 financial crisis.
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According to the material finextra.com