Hong Kong Starts Phase 2 of e-HKD CBDC Pilot
The Hong Kong Financial Authority (HKMA) has launched the second section of its central financial institution digital forex (CBDC) pilot, the e-HKD.
The HKMA will proceed testing from the primary section and discover new purposes of a digital model of the Hong Kong greenback. Section 1 of the pilot examined the usage of a CBDC in home retail funds, offline funds, and the settlement of tokenized property.
The HKMA mentioned that “the following section will delve deeper into choose pilots from Section 1 the place an e-HKD may add distinctive worth, specifically programmability, tokenization, and atomic settlement, in addition to discover new use instances that haven’t been coated within the earlier section.”
Hong Kong is amongst greater than 100 jurisdictions worldwide exploring the issuance and purposes of CBDCs. Some regulators consider that central financial institution digital currencies may compete with personal cryptocurrencies comparable to stablecoins within the funds area.
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