Xiaomi-owned AirStar Bank Launches Pilot Trial of Virtual Banking Service in Hong Kong

AirStar Bank Limited, a joint venture virtual bank between Chinese smartphone brand Xiaomi and AMTD Group – Asia’s largest independent corporate finance and advisory house, has announced the launch of a pilot trial on Tuesday.

SEE ALSO: Xiaomi Obtained Hong Kong Virtual Bank License

The pilot trial will offer virtual banking services to 2,000 selected customers, with most of them being the families and friends of the employees of AirStar, Xiaomi and AMTD Group.

AirStar was granted a virtual banking license by Hong Kong Monetary Authority on May 9, 2019. It’s the second virtual bank in Hong Kong to open a trial operation, following ZA Bank, which has already started its normal operation on March 24.

Hong Kong Monetary Authority issued a total of eight virtual banking licenses to companies last year, including Alibaba-backed Ant Financial, Tencent, JD.com and Ping An Insurance.