Terrill Dicki
Sep 24, 2024 03:46
The Hong Kong Financial Authority (HKMA) launches Part 2 of the e-HKD Pilot Programme, increasing Venture e-HKD to analyze new digital cash varieties.
The Hong Kong Financial Authority (HKMA) has commenced Part 2 of the e-HKD Pilot Programme, delving deeper into modern use circumstances for brand spanking new types of digital cash, in accordance with the official announcement. This part goals to discover the potential of e-HKD and tokenised deposits for each particular person and company use.
Venture e-HKD+ Enlargement
Venture e-HKD has been rebranded as Venture e-HKD+ to replicate its broader scope, encompassing a extra complete exploration of the digital cash ecosystem. The HKMA’s initiative underscores its dedication to advancing the fintech panorama and unlocking the complete potential of digital cash.
Key Themes and Contributors
Beneath Part 2, 11 teams of companies from various sectors have been chosen to analyze modern use circumstances throughout three main themes: settlement of tokenised belongings, programmability, and offline funds. These companies may even assess the business feasibility of latest digital cash varieties in real-world settings.
Sensible Outcomes and Business Collaboration
The findings from Part 2 will present the HKMA with insights into the sensible challenges of designing, implementing, and working a digital cash ecosystem that features each publicly and privately issued digital currencies. To facilitate this, the HKMA will set up the e-HKD Business Discussion board, a collaborative platform for taking part establishments to debate widespread points and discover scalable implementation and adoption methods. Business-led working teams will focus initially on programmability-related points.
e-HKD Sandbox and Future Prospects
Much like Part 1, an e-HKD sandbox can be accessible to pilot members to speed up the prototyping, growth, and testing of their use circumstances. Over the following 12 months, the HKMA will collaborate carefully with the chosen companies, aiming to share key learnings from Part 2 with the general public by the top of 2025.
Mr. Eddie Yue, Chief Govt of the HKMA, acknowledged, “Venture e-HKD+ signifies the HKMA’s dedication to digital cash innovation. The e-HKD Pilot Programme has supplied a precious alternative to discover how new types of digital cash can add distinctive worth to most people. We look ahead to working carefully with business members in Part 2 to co-create varied modern use circumstances.”
Picture supply: Shutterstock
