According to TechFlow, the Banque de France (BDF) and the Hong Kong Monetary Authority (HKMA) announced a collaboration focusing on wholesale central bank digital currencies (CBDCs) and the tokenization of financial assets. This collaboration is seen as an important milestone in promoting financial innovation and strengthening the interoperability of digital currencies.
The HKMA is participating in the European Central Bank (ECB) Eurosystem’s exploratory work, making the HKMA one of the first central bank institutions outside the Eurosystem to join the initiative. Through a Memorandum of Understanding (MoU), the Bank Development Fund and the HKMA aim to advance research on wholesale CBDCs and tokenization.
Currently, both the Bank Development Fund and the HKMA have become pioneers in the CBDC field. The focus of the cooperation between the two parties is to achieve interoperability between the Civil Defense Force’s DL3S infrastructure and the HKMA’s “pooling scheme” sandbox.
The HKMA’s “pooling project” announced earlier this year aims to explore innovative financial market infrastructures for interbank token settlement via wholesale CBDC. The trial aims to optimize settlement efficiency for international transactions and enhance interoperability between financial market infrastructures in different jurisdictions.
