[Deputy Secretary for Financial Services and the Treasury of Hong Kong: Digital asset custody insurance has been approved by the UAE Central Bank, and mBridge will expand public and private sector participation] Golden Finance reported that Chen Haolian, Deputy Secretary for Financial Services and the Treasury of Hong Kong, delivered an opening speech for the Invest in UAE Forum, saying that over the past year, Hong Kong and Dubai have continuously strengthened their partnership in the financial field. Last year, a licensed insurance technology company in Hong Kong began strategic cooperation with the oldest local insurance company in the UAE. The digital asset custody insurance of both parties has been approved by the Central Bank of the UAE to settle locally. In terms of cross-border payments, Chen Haolian pointed out that the Hong Kong Monetary Authority and the Central Bank of the UAE, together with three other central banks and the Innovation Hub of the Bank for International Settlements, are working on a project called Multiple Central Bank Digital Currency (mBridge) to study the application of wholesale central bank digital currency. The project completed the pilot phase in 2022, with the participation of 20 banks from four jurisdictions. This year, the project has reached the minimum viable product (MVP) stage and will further expand the participation of the public and private sectors.