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Hong Kong Monetary Authority Launches Wholesale CBDC Project to Develop Local Tokenisation Market

March 8, 2024


Through the new project, Hong Kong Monetary Authority will explore innovative financial market infrastructure (FMI) that will facilitate seamless interbank settlement of tokenised money through a wholesale CBDC.

The project will initially focus on tokenised deposits, a digital representation of commercial bank deposits, issued by commercial banks and made available to the general public. With wCBDC as the foundation, tokenised deposits will be used for tokenised asset transactions, hoping to unlock new opportunities for optimisation and innovation in the tokenisation era.

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