(Cointime 18th,May)The Hong Kong Monetary Authority (HKMA) has announced the launch of a pilot program for "Digital HKD", the potential retail-level central bank digital currency (CBDC). Sixteen selected companies from the finance, payment, and technology sectors will conduct the first round of trials within six potential use cases, including comprehensive payments, programmable payments, offline payments, tokenized deposits, Web3 transaction settlements, and tokenized asset settlements.
The HKMA is preparing for the potential launch of "Digital HKD" through a three-track approach, with the pilot program as an essential component of the second track. While the HKMA has not yet decided whether to officially launch "Digital HKD," the pilot program will provide valuable insights to explore innovative use cases and be prepared for future initiatives. The HKMA also plans to establish a CBDC expert group to facilitate collaboration between the government, industry, and academia.
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