On December 23rd, Fusion Bank, the eighth virtual bank in Hong Kong, announced its official opening and is the first virtual bank that connects to WeChatPay HK. Fusion Bank is a joint venture formed by Tencent, the Hong Kong Stock Exchange, ICBC (Asia), Hillhouse Capital and Zheng Zhigang. The bank started its trial business at the end of September. It currently provides savings, fixed deposits, local transfers and foreign exchange trading services in HKD, RMB and USD. It is the first virtual bank to launch foreign exchange trading. Customers can also make local payments in HKD and RMB via FPS QR codes on the bank App.