The Bank of France and the Hong Kong Monetary Authority collaborate on wCBDC

2024-07-09 09:40:28

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ChainCatcher news, according to Bitcoin.com, the Banque de France (BDF) and the Hong Kong Monetary Authority (HKMA) announced a collaboration on wholesale central bank digital currency (wCBDC).

It is reported that this collaboration includes the HKMA's participation in the second wave of exploratory work of the European Central Bank's euro system. The two institutions signed a Memorandum of Understanding (MoU) to innovate in the wCBDC and tokenized markets, focusing on the interoperability between BDF's DL3S infrastructure and the HKMA's Ensemble Sandbox. This collaboration aims to enhance real-time cross-border and cross-currency payments, optimize settlement efficiency, and promote interoperability between financial market infrastructures.

BDF First Deputy Governor Denis Beau and HKMA Vice President Howard Lee emphasized the potential of this initiative in promoting inclusive finance and advancing the development of the global token market.

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