According to PANews, the Hong Kong Monetary Authority (HKMA) has announced the commencement of the second phase of its Digital Hong Kong Dollar (e-HKD) pilot program. This phase aims to further explore new types of digital currencies for both individuals and businesses, including the e-HKD and tokenized deposits. The project has been renamed 'e-HKD+' to reflect a broader exploration of the digital currency ecosystem.
Eleven selected institutions will conduct innovative use case studies in three key areas: tokenized asset settlement, programmability, and offline payments. This phase of research will assist the HKMA in understanding the potential design and operational challenges within a coexisting public and private digital currency ecosystem.