Mox Bank hits first profit and launches wealth programme for young professionals
Breakeven milestone in early 2026
Mox Bank reached financial breakeven in the first quarter of 2026, its first profitable quarter since launching in 2020. Management said the result was driven by broad-based growth across lending, deposits and fees, supported by a 32% year-on-year rise in operating income to HKD 719 million in 2025.
The digital-only bank now serves more than 750,000 customers in Hong Kong, equivalent to around 12% of the city’s bankable population. Since launch, customers have spent a total of HKD 70 billion via Mox cards, completing 176 million card transactions.
Executives described the profit as evidence that a branchless, digital-first banking model can move from rapid customer acquisition to commercial sustainability within five years.
New Mox+ wealth programme targets emerging affluent
Alongside the breakeven announcement, Mox unveiled Mox+, a new wealth management programme aimed at young professionals and the emerging affluent segment in Hong Kong.
Mox+ members receive:
- enhanced deposit rates of 3.5% per annum on balances up to HKD 5 million
- preferential fees on wealth products and foreign exchange
- early access to selected products and services
Eligibility requires a monthly average daily balance of HKD 600,000 across deposits and investments. The bank said Mox+ is designed to integrate financial and lifestyle benefits to support long-term wealth building.
Lifestyle rewards and broader platform strategy
Mox+ users can also access dining rebates, hotel stays, coffee vouchers and health-related benefits. The bank framed these offers as part of a push to blend everyday spending with structured saving and investing habits.
Executives said the initiative supports a broader strategy to evolve from a pure digital bank into a diversified financial platform, offering lower-cost wealth solutions and practical savings tools to Hong Kong’s working population.
Rapid growth in trading and assets under management
In 2025, Mox reported:
- a 2.4-fold increase in trading volumes on its investment platform
- a 2.6-fold rise in assets under management
- more than 10% of customers now holding an investment account
These trends signal rising uptake of its investment services as the bank expands beyond payments and deposits.
Mox plans to add IPO subscription capabilities to the platform later this year, after earlier rollouts of crypto trading, thematic equity selections and managed fund strategies. Its managed portfolios—Conservative, Income, Balanced and Growth—have been developed with global asset managers.
Market data shows cash-heavy households
A separate study Mox conducted with Ipsos between August 2025 and April 2026, surveying 2,500 respondents, found:
- 63% of liquid assets among Hong Kong residents are held in cash or deposits
- participants needed an average of 5.6 months to save before investing
- investment activity was then delayed by a further 2.75 months on average
The bank cited this data to justify its focus on accessible investment tools that could shift part of the city’s large cash balances into higher-yielding products.
High customer activity on everyday banking services
Customer usage figures underline the scale of Mox’s digital operations:
- around 50 million outgoing transfers processed through the app
- 5 million bill payments completed
- more than 31 million overseas card transactions
- about 250 million total interactions across its banking interface
Since 2020, Mox has launched more than 15 new products and distributed HKD 2 billion in cash rewards. It now holds the seventh-largest credit card portfolio among Hong Kong retail banks, and its app carries a 4.8 out of 5 rating on the Apple App Store.
Regulated entry into crypto trading
Mox’s strategic shift into wealth and digital assets aligns with changes in Hong Kong’s regulatory environment. On 28 January 2026, the bank officially launched a regulated service for trading Bitcoin and Ethereum, becoming one of the first licensed banks in the city to offer these products directly to retail customers.
The service operates under a framework set by the Securities and Futures Commission (SFC), which mandates strong customer protections and anti-money laundering controls. Mox’s crypto offering, delivered in partnership with licensed virtual asset exchange HashKey, currently:
- allows only buying and selling within the Mox app
- does not permit transfers of assets to or from external wallets
- prohibits derivatives for retail customers
All platforms marketing such services to Hong Kong residents must hold an SFC license. As of late January 2026, 59 institutions had secured the upgraded license required to offer regulated virtual asset services.
Fee structures differ from early-market exchanges
Mox applies a tiered commission structure on its crypto trades, with fees ranging from 0.5% to 1.25% depending on membership level. This contrasts with other digital banks such as ZA Bank, which became the first virtual bank to support crypto trading in July 2025 and uses a different pricing model.
The introduction of regulated digital asset trading to Mox’s 750,000-plus customer base could bring a new wave of retail participants into the market. The move comes as Hong Kong’s broader digital asset activity has accelerated, with transaction volumes on local exchanges rising 233% year-on-year in the first half of 2025 to HKD 26.1 billion.
From growth to durability in digital banking
Mox’s first profitable quarter, combined with the rollout of Mox+ and regulated crypto services, marks a pivot from pure customer growth to building a durable, fee-generating business.
By linking savings, investment tools, lifestyle rewards and digital asset access under one app, the bank is positioning itself to capture more of its customers’ financial activity while responding to a market where most liquid assets still sit in low-yield cash and deposits.
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