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Ping is a global payment platform for freelancers and contractors that enables digital nomads to get paid in dollars or crypto, wherever they are, and convert their salaries to local currency in an efficient and cost-effective way.
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China's Digital Yuan Participating Banks to Increase to 30 Within the Year
The People's Bank of China has added 20 operating institutions to the digital yuan network through two rounds of expansion this year, increasing the number of participating banks from 10 at the beginning of the year to 30. This week, 8 new banks were added, including Ping An Bank, Hengfeng Bank, Bank of Shanghai, and Hangzhou Bank, among others. The relevant banks have connected to the digital yuan central system, but still need to complete operational and technical preparations before officially providing services.
Multiple digital banks in Hong Kong announce financial results: Ping An Digital Bank’s deposits exceed HK$12.5 billion; WeLab narrows its losses
According to HK01, several digital banks in Hong Kong have recently announced their full-year 2025 financial results. Overall, the industry is gradually moving away from its early-stage capital-intensive expansion model, with trends emerging such as continued narrowing of losses, accelerated revenue growth, and intensified competition shifting from “customer acquisition” to “profitability.” Specifically: - WeLab Bank’s post-tax loss narrowed to HK$59.95 million in 2025; its adjusted post-tax loss dropped sharply from HK$238 million in 2024 to HK$47.059 million. - Ping An Digital Bank’s post-tax loss narrowed to HK$274 million; its net interest income rose 62% year-on-year to over HK$224 million; its total assets grew 135% year-on-year to HK$12.38 billion; and its total customer deposits exceeded HK$12.5 billion as of end-March this year.