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What HKMA’s second experiment with retail e-HKD means for Hong Kong residents
The Hong Kong Monetary Authority (HKMA) is pushing ahead with the next phase of its experiment with retail e-HKD, or central bank digital currency (CBDC), after gaining insight into its potential uses during a six-month pilot programme that concluded in October last year. The HKMA has said the next round of the trial with selected participants will delve deeper into the technology, business model and legislation surrounding e-HKD transactions. One of the potential uses could be for pricing and disbursing mortgages, with consumers and banks benefiting equally from the digital currency’s adoption. Traditionally, ... (full story)