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Hong Kong explores digital currency with e-HKD trials


The Hong Kong Monetary Authority (HKMA) has selected 16 firms, including HSBC, Standard Chartered Hong Kong, and Alipay Hong Kong, to participate in a pilot programme exploring the use of the digital Hong Kong dollar (e-HKD) in six areas. The pilot will investigate the digital currency's potential for full-fledged and programmable payments, offline transactions, tokenized deposits, Web3 transaction settlement, and tokenized asset settlement. Real transaction scenarios will be used for certain case studies. Results will be shared in November, with further pilot rounds planned. Despite these explorations, the HKMA emphasised that a decision on the e-HKD's implementation is yet to be made. The e-HKD pilot is part of the HKMA's approach to potentially adopting the digital currency in the future.

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