2 months ago
The Hong Kong Monetary Authority (HKMA) has announced the motorboat of the 2nd signifier of its central slope integer currency (CBDC) aviator program, known arsenic e-HKD, according to a Sept. 23 statement.
The 2nd signifier volition delve into precocious usage cases for integer money, emphasizing e-HKD and tokenized deposits for individuals and businesses. The archetypal signifier focused connected investigating CBDC applications successful home retail payments, offline transactions, and the colony of tokenized assets.
The HKMA stated that the inaugural has evolved from its archetypal e-HKD absorption and is present rebranded arsenic Project e-HKD+ to align with the changing fintech landscape.
e-HKD Applications
The HKMA has engaged 11 firms from assorted sectors to analyse e-HKD applications successful 3 main areas, including tokenized plus settlement, programmability, and offline payments.
Some of the participants reportedly progressive successful signifier 2 see ANZ, Airstar Bank, Aptos Labs, BlackRock, Bank of Communications (Hong Kong), ChinaAMC, China Mobile, DBS, Fidelity International, Kasikornbank, and Sanfield.
The HKMA stated that these firms volition measure the commercialized viability of caller integer wealth forms wrong real-world settings, aiming to heighten accessibility for individuals and corporations.
The results of Phase 2 volition supply insights into the applicable challenges of creating a integer wealth ecosystem that integrates some publically and privately issued integer currencies. Project e-HKD+ volition further make the indispensable exertion and ineligible model to enactment imaginable aboriginal issuance of e-HKD for some individuals and businesses.
To foster collaboration, the HKMA volition found the e-HKD Industry Forum. This level volition alteration participating institutions to sermon communal challenges and research the scalable implementation of caller integer wealth forms. Industry-led moving groups volition code circumstantial topics, initially focusing connected programmability.
Similar to Phase 1, an e-HKD sandbox volition beryllium disposable for aviator participants to facilitate prototyping, development, and investigating of usage cases. During Phase 2, the HKMA volition collaborate intimately with the selected firms implicit the adjacent 12 months to stock cardinal findings with the nationalist by the extremity of adjacent year.
HKMA main enforcement Eddie Yue stated:
“Project e-HKD+ signifies the HKMA’s committedness to integer wealth innovation. The e-HKD Pilot Programme has provided a invaluable accidental for the HKMA to research with the manufacture however caller forms of integer wealth tin adhd unsocial worth to the wide public. The HKMA volition proceed to follow a use-case driven attack successful its exploration of integer money.”
The station Hong Kong monetary regulator launches 2nd signifier of CBDC project appeared archetypal connected CryptoSlate.
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