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Hong Kong Presents Digital Currency Prototype, Project Aurum

October 24, 2022

Hong Kong to Issue Retail Tokens and Stablecoins as Part of Project Aurum

A collaboration between the BIS Innovation Hub Hong Kong Centre, the Hong Kong Monetary Authority (HKMA), and the Hong Kong Applied Science and Technology Research Institute has produced a prototype of Hong Kong’s upcoming digital currency, the Bank for International Settlements (BIS) announced.

Project Aurum is a full-stack, front-end and back-end, central bank digital currency (CBDC) system comprising a wholesale interbank system and a retail e-wallet system, the international financial institution explained in a press release this week.