Financial companies are calling on the Hong Kong monetary authority to be more open to granting new virtual bank licenses, as it will be difficult to attract international players to set up in the city. One of these companies is Tencent-backed Airwallex, an Australian fintech who achieved unicorn status last month, but could not make the final shortlist of eight. Last year, the company moved its Melbourne headquarters to Hong Kong after the HCMA announced plans to issue virtual banking.
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