🚀 The Hong Kong Monetary Authority (HKMA) is working on two CBDC projects: MBridge and e-HKD.
• The HKMA is working with the central banks of Hong Kong, China, Thailand and the UAE to develop mBridge, a cross-border CBDC initiative.
• The project is expected to launch by mid-2024, which could become an alternative to the Swift payments infrastructure.
• Large companies such as Tencent (owner of WeChat Pay and WeChat) are involved in the project.
• The HKMA is also working on the e-HKD project, which can be used in various areas such as programmable payments and tokenized assets.
• Trials are currently underway with 16 major companies including HSBC, Standard Chartered and Fubon Bank.
• The HKMA is working with the central banks of Hong Kong, China, Thailand and the UAE to develop mBridge, a cross-border CBDC initiative.
• The project is expected to launch by mid-2024, which could become an alternative to the Swift payments infrastructure.
• Large companies such as Tencent (owner of WeChat Pay and WeChat) are involved in the project.
• The HKMA is also working on the e-HKD project, which can be used in various areas such as programmable payments and tokenized assets.
• Trials are currently underway with 16 major companies including HSBC, Standard Chartered and Fubon Bank.