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2013 (13 Years)
Last online: No recent activity
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This company is currently Unproved.
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License
A Grade License
Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.
B Grade License
Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.
C Grade License
Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.
D Grade License
From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.
Get to know WeLab Bank
Company Information
Get to know WeLab Bank
WeLab Bank is one of the first virtual banks licensed by the Hong Kong Monetary Authority (HKMA), having received its license in April 2019 and officially launching in July 2020. Backed by the fintech company WeLab, the bank's mission is to reinvent the financial services experience through technology, providing customers with innovative, intelligent, and user-friendly digital banking solutions. It offers a range of services including savings accounts, time deposits, personal loans, and a numberless Debit Card, all managed entirely through its mobile application.
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