HKMA launches Phase 2 of e-HKD pilot programme

Mastercard, Airstar Bank and Kasikornbank will be participating. 

The Hong Kong Monetary Authority (HKMA) has launched Phase 2 of the e-HKD pilot programme.

This phase will explore new use cases for digital money, including e-HKD and tokenised deposits, for individuals and businesses.

Eleven firms from various sectors will participate and will focus on three main themes, including the settlement of tokenised assets, programmability, and offline payments.

Notably, MasterCard, Airstar and KBank will collaborate to explore supply chain financing using e-HKD, tokenised bank deposits, and the Mastercard Multi-Token Network (MTN).

Meanwhile, Visa and ANZ will investigate ways to enable Australia-based corporations to invest in Hong Kong-based investment funds using digital money.

"The outcome of Phase 2 will help the HKMA understand the practical issues that may be faced in designing, implementing and operating a digital money ecosystem that comprises both publicly and privately issued digital moneys," HKMA said.