Terrill Dicki
Sep 24, 2024 03:46
The Hong Kong Financial Authority (HKMA) launches Section 2 of the e-HKD Pilot Programme, increasing Venture e-HKD to research new digital cash kinds.
The Hong Kong Financial Authority (HKMA) has commenced Section 2 of the e-HKD Pilot Programme, delving deeper into modern use instances for brand 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 Members
Below Section 2, 11 teams of companies from various sectors have been chosen to research modern use instances throughout three main themes: settlement of tokenised property, programmability, and offline funds. These companies may also assess the industrial feasibility of recent digital cash kinds in real-world settings.
Sensible Outcomes and Business Collaboration
The findings from Section 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 collaborating establishments to debate frequent 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 Section 1, an e-HKD sandbox shall be accessible to pilot members to speed up the prototyping, growth, and testing of their use instances. Over the subsequent 12 months, the HKMA will collaborate intently with the chosen companies, aiming to share key learnings from Section 2 with the general public by the top of 2025.
Mr. Eddie Yue, Chief Govt of the HKMA, said, “Venture e-HKD+ signifies the HKMA’s dedication to digital cash innovation. The e-HKD Pilot Programme has offered a worthwhile alternative to discover how new types of digital cash can add distinctive worth to most people. We stay up for working intently with business members in Section 2 to co-create varied modern use instances.”
Picture supply: Shutterstock
