Thailand and Brazil have a collaboration in a #Token Cross-Border

According to PANews, the Hong Kong Monetary Authority (HKMA) has announced a collaboration with the central banks of Brazil and Thailand to advance cross-border asset tokenization transactions. This initiative includes atomic settlement of digital asset transactions (DvP) and cross-border payments using wholesale central bank digital currencies (PvP). Additionally, HKMA plans to launch a 'Digital Bond Funding Scheme,' offering up to HKD 2.5 million in funding for eligible digital bond issuances to promote Hong Kong as a tokenization hub.

Previously, HKMA issued two government green bonds, one through traditional issuance and the other as a native digital issuance. The latter, valued at over USD 750 million, was the largest digital bond issuance globally at the time. The current collaboration with Brazil's DREX project and Hong Kong's Ensemble project aims to apply tokenization in cross-border transactions, including trade finance and carbon credits.