Hong Kong Monetary Authority: The application scenarios of the digital Hong Kong dollar pilot program include Web3 settlement, tokenized assets, and token deposits

2023-07-20 10:53:56

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ChainCatcher news, the Hong Kong Monetary Authority tweeted that the ongoing pilot program for the digital Hong Kong dollar (e-HKD) is exploring six use case categories, including Web3 settlement, tokenized assets, and tokenized deposits.

Mastercard is exploring the potential of e-HKD in facilitating transaction settlements across different chains on Web3 platforms.

In terms of tokenized asset settlements, the pilot project by Ripple and Fubon Bank demonstrates the potential of e-HKD to unlock the value of illiquid assets through real estate asset tokenization. Meanwhile, Boston Consulting Group, HKT Payment, and Za Ban are exploring tokenized asset-backed financing settled in e-HKD.

In the area of tokenized deposit security, Hang Seng Bank, HSBC, and VISA are leading pilot projects that utilize tokenized deposits and e-HKD to facilitate real-time 24/7 interbank transfers.

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