Ripple will participate in the Hong Kong Monetary Authority's "Digital Hong Kong Dollar" pilot program to showcase asset tokenization solutions such as real estate and equity

2023-05-18 18:58:19

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ChainCatcher news, Ripple will participate in the Hong Kong Monetary Authority (HKMA) digital Hong Kong dollar (e-HKD) central bank digital currency (CBDC) pilot program by showcasing a real estate asset tokenization solution. The company will also collaborate with banks such as Taiwan's Fubon Bank to demonstrate tokenized assets for equity issuance using the retail version of the electronic Hong Kong dollar CBDC. This pilot project will run on Ripple's new CBDC platform, which is based on XRP ledger technology and a new private ledger with enhanced features.

Ripple CBDC Vice President James Wallis stated that this pilot project will delve into use cases as well as application, implementation, and design issues related to e-HKD. The experiences from the project will influence HKMA's decisions regarding the eventual rollout of the digital Hong Kong dollar. (Cointelegraph)

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