The Hong Kong Monetary Authority and other four parties jointly launched the mBridge project, completing more than HK$171 million in transactions during the trial period

According to Odaily Planet Daily, the official news from the Hong Kong Monetary Authority stated that the mBridge project is a key measure in the HKMA's "FinTech 2025" strategy. The project was jointly initiated by the Hong Kong Monetary Authority, the Hong Kong Center under the Innovation Hub of the Bank for International Settlements (BIS), the Bank of Thailand, the Digital Currency Research Institute of the People's Bank of China, and the Central Bank of the United Arab Emirates. During the six-week trial period, commercial banks in four regions used the mBridge platform prototype to conduct more than 160 payment and foreign exchange transactions with a total amount of more than HK$171 million.