Hong Kong’s central bank to explore 11 use cases in phase 2 of e-HKD pilot
This phase of the HKMA’s digital currency programme will focus on efficiency and whether the e-HKD attracts and entices users, deputy CEO Howard Lee says
“In the second phase, we would like to focus not just on the usability, but also the efficiency,” said Howard Lee, HKMA’s deputy chief executive, on Monday. “[Even] if it can be used, it does not necessarily mean that it would be a better option than the current electronic payment arrangement like FPS [Faster Payment System], e-wallets or mobile banking.”
The HKMA would like to see if the use of the e-HKD or tokenised deposits would attract and entice users, he added.
The firms selected for the second phase include ANZ, Airstar Bank, Aptos Labs, BlackRock, Bank of Communications (Hong Kong), ChinaAMC, China Mobile, DBS, Fidelity International, Kasikornbank, and Sanfield (Management), a wholly owned subsidiary of Sun Hung Kai Properties. Participants from the first phase taking part in the new phase include HSBC, Hang Seng Bank, Boston Consulting Group, Standard Chartered, Mastercard, Visa, Bank of China (Hong Kong), China Construction Bank (Asia) and ICBC (Asia).
They will examine the commercial feasibility, within a real-world setting, of new forms of digital money that may potentially be accessible to individuals and companies.
