Share this article
Hong Kong Monetary Authority to Study a Retail CBDC
Hong Kong's central bank is aiming to "future-proof" the financial center for the growth of CBDCs as part of its "Fintech 2025" strategy.
Updated Sep 14, 2021, 1:07 p.m. Published Jun 8, 2021, 11:26 a.m.
The Hong Kong Monetary Authority (HKMA) is to begin a study on the use cases of a central bank digital currency (CBDC).
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- Hong Kong's central bank is aiming to "future-proof" the financial center for the growth of CBDCs as part of its "Fintech 2025" strategy, announced Tuesday.
- The HKMA has been working with the Bank for International Settlements to research retail CBDCs.
- It will now study the benefits and risks of a retail digital Hong Kong dollar, or "e-HKD."
- In CBDC parlance, "retail" refers to a digital currency issued to consumers and businesses directly by the central bank without commercial banks or other entities as intermediaries. In this sense, it would be comparable to digital cash.
- "The HKMA will also continue to collaborate with the People’s Bank of China in supporting the technical testing of e-CNY in Hong Kong with a view to providing a convenient means of cross-boundary payments for both domestic and mainland residents," the announcement said.
Read more: China to Hold Beijing Lottery for CBDC Trial
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bitcoin slides to $86,000 as slower rate cut risk, AI stock woes shake markets
Crypto-related stocks suffered far deeper declines as bitcoin slumped well below its recent trading range.
What to know:
- Bitcoin and major altcoins fell further throughout U.S. trading hours as macro uncertainty continued to pressure risk assets.
- Many crypto-related stocks, including leaders Coinbase and Strategy, posted deeper slumps than crypto itself.
- Wintermute's Jasper De Maere suggested the decline is and should remain orderly.
Top Stories
