WeLab Digital secures online-only banking licence in Hong Kong

WeLab founder and CEO Simon Loong. Photo: WeLab's LinkedIn page

WeLab Digital Limited was awarded Hong Kong’s fourth online-only banking licence on Wednesday, the Hong Kong Monetary Authority said in a statement, giving the fintech company access to a lucrative retail banking market in the Asian financial hub.

WeLab is a fintech company that offers mobile lending services primarily in Hong Kong and mainland China.

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