Ripple and Fubon Bank to announce digital Hong Kong dollar test results during Fintech Week

Ripple and Fubon Bank are conducting a digital Hong Kong dollar (eHKD) pilot project to promote real estate tokenization solutions. The test results of each use case will be announced during Fintech Week. Ross Edwards, head of central bank digital currency cooperation at Ripple Asia Pacific, said that most use cases are related to payments, and to use central bank digital currency, you must first have a way to receive it. Its real estate tokenization use case is to issue loans in digital Hong Kong dollars, which is a way to distribute digital Hong Kong dollars and can cooperate with many other payment use cases. However, he admitted that the HKMA is still analyzing the test results of the use cases and has not yet delved into the interoperability of each use case, which is still in the early stages of exploration. Note: Hong Kong Fintech Week 2023 will be held from October 30 to November 5, with the theme "New Definition of Fintech". (Economic Journal)