Recently, the Banque de France (BDF) and the Hong Kong Monetary Authority (HKMA) announced a partnership to jointly work on the research and development of wholesale central bank digital currencies (CBDCs) and tokenization of financial assets. This cooperation is seen as an important milestone in financial innovation and enhancing the interoperability of digital currencies.

The participation of the Hong Kong Monetary Authority (HKMA) is said to mark an important development on the international financial stage. As one of the first non-Eurosystem central bank institutions to join the ECB’s Eurosystem exploratory work, this step highlights the HKMA’s leadership in promoting financial innovation and digital currencies.