Airstar Bank
“Can a Xiaomi/AMTD-backed HK virtual bank capture mainland cross-border retail and SME deposits before incumbents fully digitize?”
Founded2019
HQKowloon, Hong Kong
Total raised$56.34M (disclosed via CB Insights)
Latest roundCorporate Minority
IndustryBank / Virtual (Hong Kong licensed digital bank)
The story
Airstar Bank is one of Hong Kong's eight licensed virtual banks, founded in 2019 as a JV between Xiaomi and AMTD Group (later including Futu). It operates as a chartered bank with HKMA bank code 395 — not a BaaS consumer of third-party rails. Its strategy has shifted from purely retail (savings, personal loans, FX) toward serving SMEs via Stellar Corporate Banking launched in 2023. Mainland China cross-border remittance is a distinguishing capability among HK virtual banks.
Product timeline
2019
Granted virtual bank license by Hong Kong Monetary Authority on May 9, 2019; formerly known as Insight Fintech, jointly established by Xiaomi Corporation and AMTD Group.· banking
2020
Launched full retail operations in Hong Kong with mobile-only account opening, deposits, loans, and FX.· banking
2023
Launched Stellar Corporate Banking, a digital platform for Hong Kong SMEs with multi-currency accounts and fund transfer.· banking
Regulated entities
1
regulatory licence held by Airstar Bank
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
6 layers disclosed in Airstar Bank’s embedded-finance stack
Payments / PSP
Airstar Bank (self-operated, HKMA-licensed bank)
Money movement
in the full report
Banking / BaaS
in the full report
Lending
in the full report
Open banking
in the full report
FX & payouts
in the full report
Accounting gap: minor
6 more providers across 5 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.