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ARTICLE · 30 MAY 2023

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HKMA Commences E-HKD Pilot Programme

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The Hong Kong Monetary Authority (HKMA) commenced its e-HKD Pilot Programme for a retail central bank digital currency (CBDC) on 18 May.

Hong KongTechnology
Sara Or
Sara Or
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The Hong Kong Monetary Authority (HKMA) commenced its e-HKD Pilot Programme for a retail central bank digital currency (CBDC) on 18 May.

As part of its "Fintech 2025" strategy to future-proof Hong Kong in terms of CBDC/e-HKD readiness, the initiative launched with the announcement that 16 firms from the financial, payment and technology sectors have been selected to participate in the first round of pilots for 2023.

The HKMA also announced plans to establish a CBDC Expert Group exploring key CBDC policy and technical issues including privacy protection, cybersecurity and interoperability.

Background

The HKMA announced in September 2022 that a three-rail approach would be adopted to prepare for possible e-HKD implementation.

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