According to The Crypto Basic, Ripple announced that it is working with Hong Kong businesses and financial regulators. Kirit Bhatia, head of business development at Ripple, said that Hong Kong is one of the most important and enduring financial centers in the world, and one of the cities with the largest scale of blockchain investment and developers, with a high concentration of developers and blockchain-related investments. Ripple will promote value tokenization and is currently working closely with Hong Kong financial regulators to promote pilot CBDC and real-world asset tokenization projects based on XRP Ledger.