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HKMA still undecided on e-HKD introduction

The Hong Kong Monetary Authority (HKMA) has clarified that a decision regarding the introduction of a digital Hong Kong dollar (e-HKD) is still pending. Results from a pilot program involving 16 institutions suggest that an e-HKD could enhance the current payment system through improved programmability, tokenisation, and real-time settlements. However, the HKMA highlighted the need for further research, noting that previous tests were limited in scale and conducted under controlled settings. While there is no defined timeline for the e-HKD's potential rollout, the HKMA has established an internal group to assess related legal considerations. The pilot programme will move into its second phase next year, focusing on corporate applications, cross-border settlements and other potential uses.

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