Hong Kong to Launch Wholesale CBDC for Interbank Payments by Year-End
Uk Jin
Summary
- Hong Kong plans to launch a wholesale central bank digital currency (CBDC) for interbank payments by year-end.
- The Hong Kong Monetary Authority (HKMA) said it will introduce the wholesale CBDC by year-end as part of Project EnsembleTX.
- The HKMA said the wholesale CBDC will ease time constraints in payment systems and enable tokenized asset and tokenized deposit transactions to be settled 24 hours a day.
Forecast Trend Report by Period
Hong Kong plans to launch a wholesale central bank digital currency, or CBDC, for interbank payments by the end of this year.
Odaily reported on September 18 that the Hong Kong Monetary Authority will introduce the wholesale CBDC by year-end as part of Project EnsembleTX.
The HKMA plans to use the wholesale CBDC to ease time constraints in existing payment systems and build settlement infrastructure for tokenized assets. It also aims to enable 24-hour settlement for tokenized deposit transactions.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.