Standard Chartered-supported Hong Kong virtual bank Mox targets full-year breakeven after a breakeven first quarter of 2026, as it launches the Mox+ wealth solution and expands Mox Invest.
Barbaros Uygun, chief executive of Mox Bank, said the bank was confident the momentum would continue in the current quarter and support breakeven for 2026.
Mox launched Mox+ wealth solution recently for customers maintaining an average daily balance of HK$600,000 or above across deposits and investments. Members can enjoy preferential Mox Invest fees, foreign-exchange pricing, an enhanced annual deposit rate of 3.5 percent on up to HK$5 million, priority support and lifestyle benefits.
Chief business officer Jayant Bhatia said the threshold was set below many other priority banking services to reach young professionals, mass affluent and emerging affluent segments.
The bank plans to launch an initial public offering (IPO) subscription service in the coming weeks. Bhatia said Mox would simplify the IPO process, including fund handling, customer updates, allotment results and refunds.
On technology, Uygun said Mox will invest another HK$1 billion over the next three years, mainly in artificial intelligence. The bank is moving towards becoming an AI-native bank and will equip staff with personalised AI assistants.
On digital assets, Bhatia mentioned that stablecoins will initially serve institutional payments and settlements, but the bank will quickly adopt retail use cases with support from its parent company when demand arises.
Effie ZHANG
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