Eddie Yue Wyman, head of Hong Kong’s de facto central bank, the Hong Kong Monetary Authority (HKMA), said the HKMA will launch a series of trials of the central bank digital currency (CBDC) e-HKD. . , in the fourth quarter of this year, worked with banks and technology companies.
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- According to Thursday, the trial aims to determine the most appropriate use cases for the digital Hong Kong dollar. report From South Morning China Post (SCMP) in Hong Kong.
- Yue said in an interview with SCMP that e-retail payments in Hong Kong are well established.
- “If we want the general public to adopt e-HKD, we need a suitable use case that can show that CBDC is better, more convenient or cheaper,” said Yue. says.
- Yue questioned the need to bring a retail CBDC to market. public consultation in April.
- Updated by HKMA CBDC Launch Roadmap In September, it indicated plans to first launch a wholesale e-HKD platform to test and explore use cases before its final public launch.
- Paying on smart devices such as watches, simplifying cross-border payments, and balancing data privacy and control could be factors supporting Hong Kong’s retail CBDC, says financial strategy consultancy Quinlan & Associates. Benjamin Quinlan, CEO and Managing Partner ofpublic Position on LinkedIn on Thursday.
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