The Hong Kong Monetary Authority (HKMA) has initiated the second phase of the e-HKD pilot study involving 21 financial institutions exploring 11 use cases for the central bank digital currency and tokenized deposits. Renamed as Project e-HKD+, this phase will run for a year with a dedicated sandbox. The project will focus on settlement of tokenized assets, programmability, and offline payments. While some use cases are broad, others are more specific, such as programmability for rewards platforms and enabling offline payments using e-HKD stored on a mobile SIM card. The HKMA aims to advance technology and legal frameworks for a potential e-HKD issuance. Additionally, the establishment of the e-HKD Industry Forum and Generative AI sandbox will facilitate collaboration and exploration of AI applications in finance. The project, which began in 2021, is a significant step towards the future of digital currency in Hong Kong. Read more AI-generated news on: https://app.chaingpt.org/news