Hong Kong To Lay Foundations For A Native Digital Currency
Reportedly, the HKMA has been researching the development of a digital Hong Kong dollar, known as ‘e-HKD, since the year 2017. However, a recent study and feedback obtained from two rounds of market consultation have convinced the authority to initiate the groundwork for potential future implementation of a retail digital currency . The report said that to explore the implementation and practical applications of a retail CBDC , the HKMA will reportedly commence its activities to establish the necessary foundations, conduct studies, and initiate pilot programs. Moreover, this move of HKMA aligns with a global trend, as central banks worldwide are increasingly exploring design options and potential use cases for digital versions of their respective sovereign currencies. Recommended Articles Crypto Presale Projects For 2023 To Invest; Updated List Must Read ...