Hong Kong Monetary Authority Launches Second Phase Of Digital Hong Kong Dollar Pilot Program

According to PANews, the Hong Kong Monetary Authority (HKMA) has announced the commencement of the second phase of its Digital Hong Kong Dollar (e-HKD) pilot program. This phase aims to further explore new types of digital currencies for both individuals and businesses, including the e-HKD and tokenized deposits. The project has been renamed 'e-HKD+' to reflect a broader exploration of the digital currency ecosystem. Eleven selected institutions will conduct innovative use case studies in three key areas: tokenized asset settlement, programmability, and offline payments. This phase of research will assist the HKMA in understanding the potential design and operational challenges within a coexisting public and private digital currency ecosystem.