Clear use cases and well-defined regulations breed #innovation. We’re excited for this continued development and support the growth in the space. Can’t wait to see what’s next! #digitalmoney #CBDC #fintech #keepbuilding
Last week, HKMA announced the expansion of Project e-HKD to delve deeper into innovative use cases for new forms of digital money that can potentially be used by individuals and corporates. Given the expanded coverage, the project has been renamed as Project e-HKD+, reflecting our commitment to digital money innovation. Under Project e-HKD+, we’ve commenced Phase 2 of the e-HKD Pilot Programme, bringing together 11 groups of diverse firms to explore innovative applications for digital money. We’re excited to initially focus on two key forms of digital money: 🪙 e-HKD: Hong Kong's central bank digital currency 🏦 Tokenised deposits: Tokenised form of bank deposits Selected firms will be looking at three main themes: 🎟️ Settlement of tokenised assets 💻 Programmability 🔘 Offline payments The outcomes will help the HKMA understand the practical challenges that may be faced in designing, implementing and operating a digital money ecosystem that comprises of both publicly and privately-issued digital money. Project e-HKD+ will not only advance the technology but also the legal groundwork to support the potential issuance of e-HKD for the use of individuals and corporates in the future. For more information on the firms participating in the e-HKD Pilot Programme Phase 2, please visit https://lnkd.in/gaSyKQZp #HKMA #eHKDplus #DigitalMoney #FinancialInnovation