@busman
On October 28, according to the Hong Kong Economic Journal, the Hong Kong Monetary Authority (HKMA) released the "Phase Two Report of the Digital Hong Kong Dollar Pilot Program," completing 11 groups of trials and announcing the main results. The test results show that the digital Hong Kong dollar and tokenized deposits can promote cost-effective, programmable, and robust transactions, bringing benefits to users.
The HKMA believes that the current demand for the digital Hong Kong dollar is concentrated outside of retail scenarios, so it will prioritize the development of "wholesale-level" applications in the future to promote the use of the digital Hong Kong dollar for payments between financial institutions. Currently, some financial institutions are using the digital Hong Kong dollar in tokenized ecosystem development and cross-border payment scenarios, such as international trade settlement.
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