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.
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The Hong Kong Monetary Authority (HKMA) is to begin a study on the use cases of a central bank digital currency (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, 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
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Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
Why it matters:
Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
