Hong Kong Digital Banks Consider Opening Physical Branches

According to Foresight News, the Hong Kong Monetary Authority (HKMA) has permitted digital banks to establish physical branches starting in October. WeLab Bank, ZA Bank, and Mox Bank are contemplating this move, while Livi Bank currently has no plans to do so. WeLab Bank indicated that its physical branches might focus on providing advisory services. The bank, co-owned by Standard Chartered, also plans to continue enhancing its digital services.