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Hong Kong Launches Pilot Program for Central Bank Digital Currency (CBDC) E-HKD

The Hong Kong Monetary Authority (HKMA) has launched a pilot program for its central bank digital currency (CBDC), e-HKD, involving 16 banks and payment processors. The participants will test the effectiveness of the currency in various scenarios, including offline payments, tokenized deposits, settlement of blockchain transactions, and tokenized assets. The pilot project is expected to last for six months, with the findings to be released in November. The e-HKD is a digital solution for retail customers and will be accessible to all residents of Hong Kong as it is a digitized form of legal tender fully backed by the government and regulated by the HKMA.

Hong Kong CBDC
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