Ripple, Visa Join HK CBDC Pilot, Huobi Charges, GameFi Token Up 300%: Asia Express
On May 18, the Hong Kong Monetary Authority (HKMA) issued announce Launching the HKD Cyber Pilot Project. According to officials, 16 selected companies from the financial payment and technology sectors will conduct the first round of trials this year on the feasibility of the Hong Kong Central Bank’s digital currency (e-HKD). Include companies listed on the pilot Ali Baba NYSE: Group’s Alipay Financial, Mastercard (NYSE): Asia, Labs, Visa (NYSE:), and HSBC.
The digital Hong Kong dollar will start with six potential use cases; Universal payments, programmable payments, offline payments, token deposits, Web 3.0 transaction settlements and tokenized asset settlements. CBDCs are scheduled for a three-phase approach, with the new pilot program being an important aspect of the second phase.
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