Hong Kong Launches Second Phase of Its CBDC Pilot Program

Hong Kong Launches Second Phase of Its CBDC Pilot ProgramThe Hong Kong Monetary Authority announced the launch of the second phase of the pilot of its CBDC, the digital Hong Kong dollar (e-HKD). This new phase will focus on furthering the research on already examined use cases for the currency, including programmability and tokenization, and adding new, not previously explored use cases. Hong Kong […]

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Hong Kong Launches Project Ensemble, a Wholesale CBDC and Tokenized Deposits Initiative

Hong Kong Launches Project Ensemble, a Wholesale CBDC and Tokenized Deposits ProjectThe government of Hong Kong has announced Project Ensemble, an initiative that will test the functionality of a wholesale central bank digital currency (WCBDC) and the movement of tokenized deposits. If there is “sufficient interest” in the project, the Hong Kong Monetary Authority (HKMA) will conduct a live issuance of the WCBDC in the future. […]

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Hong Kong Presents Digital Currency Prototype, Project Aurum

Hong Kong Presents Digital Currency Prototype, Project AurumFinancial authorities in Hong Kong have unveiled a prototype of the Chinese autonomous territory’s own central bank digital currency called Project Aurum. The two-tier platform features a wholesale interbank and a retail e-wallet system, participants revealed. Hong Kong to Issue Retail Tokens and Stablecoins as Part of Project Aurum A collaboration between the BIS Innovation […]

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Hong Kong Protects Local Currency in Forex Market Amid Capital Flight to US Dollar

Hong Kong Protects Local Currency in Forex Market Amid Capital Flight to US DollarFollowing the Bank of England explaining that it would be meddling in U.K. bond markets and the Bank of Japan defending the yen in the foreign exchange market last week, the Hong Kong Monetary Authority (HKMA) revealed it intervened in forex markets on Wednesday. Hong Kong’s central bank detailed that it interfered in forex markets […]

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Hong Kong to Start Testing Digital Currency in Coming Months

Hong Kong to Start Testing Digital Currency in Coming MonthsChina’s special administrative region of Hong Kong is going to trial а digital version of its dollar as early as this year, in preparation for eventual roll-out. The territory is trying to catch up with those that are already launching central bank digital currencies, including the People’s Republic with its digital yuan project. Trials of […]

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‘All Banks Go Fintech’: Hong Kong Unveils ‘Fintech 2025’ Strategy

‘All Banks Go Fintech’: Hong Kong Unveils ‘Fintech 2025’ StrategyThe Hong Kong Monetary Authority (HKMA) plans to guide local banks towards full adoption of fintech technologies, a new strategy reveals. The region’s central banking institution also stressed that it’s going to “walk the talk” by digitalizing its own supervision of financial institutions. Hong Kong Central Bank to Support Fintech Development Hong Kong’s monetary policy […]

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Hong Kong to Connect Digital Yuan With Domestic Payments System in Cross-Border Trials

Hong Kong to Connect Digital Yuan With Domestic Payments System in Cross-Border TrialsFinancial authorities in Hong Kong have announced a second phase of trials for mainland China’s digital currency. As part of the upcoming tests, the city will link the Chinese digital yuan to its domestic payments system to evaluate the CBDC’s usability in cross-border scenarios. Hong Kong Residents to Load E-CNY Wallets via Mobile Phones China […]

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