[HKMA launches the second phase of the Digital Hong Kong Dollar pilot program and expands the Digital Hong Kong Dollar project to explore new digital currencies] On September 23, according to the official website of the Hong Kong Monetary Authority (HKMA), the HKMA launched the second phase of the "Digital Hong Kong Dollar" pilot program today to further explore new digital currencies that can be used by individuals and businesses, including "Digital Hong Kong Dollar" and tokenized deposits. The project name has been changed to "Digital Hong Kong Dollar +" to reflect the broader exploration of the digital currency ecosystem. The 11 selected institutions will conduct innovative use case research in three major areas: tokenized asset settlement, programmability, and offline payments. This phase of research will help the HKMA understand the design and operational issues that may be faced in the public-private coexistence digital currency ecosystem.