Hong Kong advances CBDC pilot, bringing e-HKD trials to Section 2

The Hong Kong Financial Authority (HKMA) is gearing up for the second section of the e-HKD (e-Hong Kong greenback) pilot program because it introduced the profitable completion of the Section 1 trial of its in-house central financial institution digital forex (CBDC).

The HKMA launched the e-HKD pilot program in November 2022 to guage the business viability of an in-house CBDC as a part of its “Fintech 2025” technique. Section 1 was devoted to finding out e-HKD in six areas, which embrace full-fledged funds, programmable funds, offline funds, tokenized deposits, settlement of Web3 transactions and settlement of tokenized belongings.

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