(7 October 2024 – Hong Kong) ANZ and Visa have been chosen to investigate cross border payments and interoperability for asset investment through tokenisation as part of the yearlong Phase 2 eHKD Pilot Program.
ANZ and Visa plan to explore multiple ways to enable Australia-based corporates to invest in Hong Kong-based funds. The Pilot Program will explore near-real time settlement for interbank transfers and cross-border payments, facilitating Australia-based corporate investors’ purchases of tokenised fund units offered by ANZ’s asset management clients, Fidelity International and ChinaAMC (HK).
ANZ has also joined the Monetary Authority of Singapore’s multi-year Project Guardian initiative to explore asset tokenisation applications in partnership with Chainlink Labs and ADDX, analysing interoperability between private blockchains to exchange tokenised real-world assets such as commercial paper.
“We are pleased to have been selected for the HKMA’s Phase 2 eHKD Pilot Programme and look forward to demonstrating how our existing network, data and technology capabilities can support our multinational and institutional customers moving goods and capital across the region. We welcome the opportunity to collaborate on this pilot. We see significant potential to improve efficiency for funds management clients through our emerging Digital Assets capabilities such as A$DC” commented ANZ Banking Services Lead, Nigel Dobson.
“Enabling secure payments across borders is central to what we do at Visa. We are committed to working with partners to simplify the process for both businesses and consumers at every step. Our work in Phase 2 of the Pilot Programme aims to drive innovations that could enhance the efficiency and transparency of cross-border payments. From remittance and commercial payment to procurement and trade settlement, we are harnessing cutting-edge technologies like blockchain and tokenisation to strengthen our payments infrastructure and pave the way for a more seamless, secure and inclusive financial future” stated Visa General Manager of Hong Kong and Macau, Paulina Leong.