CBDC Initiatives Forge Alliance Between France and Hong Kong to Drive Global Tokenization

The Banque de France (BDF) and the Hong Kong Monetary Authority (HKMA) have announced a partnership focused on wholesale central bank digital currency (wCBDC). 

This collaboration includes HKMA’s participation in Wave 2 of the European Central Bank’s Eurosystem exploratory project. Under a Memorandum of Understanding (MoU), they plan to innovate in wCBDC and tokenization markets, aiming to enhance interoperability between their infrastructures—BDF’s DL3S and HKMA’s Ensemble Sandbox. 

The goal is to improve real-time cross-border and cross-currency payments, optimize settlement efficiency, and foster interoperability among financial market infrastructures. Denis Beau, BDF’s first Deputy Governor, and Howard Lee, HKMA’s Deputy Chief Executive, highlighted the initiative’s potential to drive financial inclusion and advance the global tokenization market.

Clever Robot News Desk 9^th July 2024