Hong Kong Monetary Authority announced today the launch of the second phase of the "Digital Hong Kong Dollar" pilot program to further explore innovative use cases for the digital currency in Hong Kong. The HKMA completed the first phase of the pilot program in October last year, studying local retail use cases in various areas such as programmable payments, tokenized asset settlement, and offline payments. Based on the results and experience of the first phase of the pilot program, the second phase will delve deeper into some of the experiments of the first phase, namely the three unique characteristics that the "Digital Hong Kong Dollar" may bring, including programmability, tokenization, and real-time settlement, and explore new use cases not included in the first phase.