Hong Kong CBDC Pilot Progresses to Phase 2, Welcoming New Firms for Digital Currency Applications
The Hong Kong Monetary Authority (HKMA) has launched Phase 2 of its e-HKD pilot program, now named Project e-HKD+, to explore tokenized deposits and digital currency applications.
Eleven groups of firms, including major banks and financial institutions, will investigate innovative use cases like offline payments and asset settlement. The HKMA plans to establish an industry forum to tackle challenges and assess the commercial viability of these digital currencies. The e-HKD sandbox will facilitate prototyping and testing, with key findings anticipated by late 2025, as the HKMA aims to create a robust digital money framework.
Clever Robot News Desk 27th September 2024
