The Hong Kong Financial Authority (HKMA) has kicked off the second part of its central financial institution digital foreign money (CBDC) pilot, the e-HKD, the regulator stated Thursday.
The central financial institution will proceed testing from the primary part and discover new functions of a digital model of the Hong Kong greenback. The HKMA accomplished Section 1 of the pilot program, which examined utilizing a CBDC in home retail funds, offline funds and settlement of tokenized belongings.
“The subsequent part will delve deeper into choose pilots from Section 1 the place an e-HKD may add distinctive worth, particularly programmability, tokenization and atomic settlement, in addition to discover new use instances that haven’t been coated within the earlier part,” the regulator stated.
Earlier this month, the HKMA began a regulatory sandbox mission to check CBDCs for wholesale use and tokenization, which the regulator says will help Section 2 of the e-HKD pilot.
Hong Kong is amongst greater than 100 jurisdictions worldwide exploring the issuance and functions for CBDCs – with some regulators satisfied trusty central financial institution cash may compete with payments-focused non-public crypto similar to stablecoins.
Organizations excited about taking part within the pilot can apply by Might 17, the announcement stated.
