HKMA Unveils Array of New Fintech Initiatives
(7 November 2023 – Hong Kong) The Hong Kong Monetary Authority (HKMA) has unveiled a raft of new distributed ledger technology (DLT) and payments fintech initiatives
HKMA and the Bank of Thailand will launch new payments rails that allow consumers to conduct instant payments between merchants in both countries.
HKMA will also explore further use cases for DLT, including the issuance of a second tokenised government green bond and commence the next phase of its Central Bank Digital Currency (CBDC) eHKD pilot program in 2024.
“This year’s Hong Kong FinTech Week comes at a time of rapid innovation, with new ideas and opportunities redefining the fintech world. It is essential for our financial services sector to adapt to these changes so that we can continue to be at the forefront of development” commented HKMA CEO Eddie Yue.