According to Foresight News, Visa has officially announced the results of a pilot test conducted in collaboration with HSBC and Hang Seng Bank, focusing on tokenized deposits using central bank digital currencies (CBDCs). The test simulated two use cases under the bank-to-bank business-to-business (B2B) payment process, including property payments and settlements between collection agencies and merchants. The potential advantages of tokenized B2B payments were demonstrated, including improvements in payment speed, settlement risk management, payment network resilience, and transaction transparency.
Visa, in partnership with the two leading Hong Kong banks, was selected for the Hong Kong Monetary Authority's (HKMA) 'Digital Hong Kong Dollar' pilot program in May this year. Visa stated that it will continue to explore more feasible tokenized deposit use cases, with a focus on areas such as asset market tokenization, programmable finance, expanded retail schemes, and cross-border payments.
