Hang Seng completes two phase-2 pilots under HKMA project e-HKD+

Hang Seng CEO Luanne Lim said the pilots demonstrated clear benefits in terms of efficiency and faster settlement.

Hang Seng Bank has completed two Phase-2 pilots under the Hong Kong Monetary Authority’s Project e-HKD+.

The first pilot, developed with FORMS HK, involved issuing programmable digital vouchers backed by a hypothetical e-HKD on a digital rewards platform that operated across both private and public permissioned DLT networks.

Participating SME merchants highlighted the benefits of instant settlement, citing improved cash flow as a key advantage—something both e-HKD and tokenised deposits could enable at scale.

The second pilot, executed with Boston Consulting Group (BCG) and Aptos Labs, tested the use of digital money to settle tokenised investment funds on a public permissioned blockchain.

Hang Seng CEO Luanne Lim said the pilots demonstrated clear benefits in terms of efficiency and faster settlement, and reaffirmed the bank’s commitment to working with regulators and ecosystem partners to build a secure, sustainable digital-money framework that enhances Hong Kong’s status as a leading international financial centre.

As part of its broader participation, Hang Seng also joined the programmability working group under the e-HKD Industry Forum.