Hong Kong Presents Digital Currency Prototype, Project Aurum
Financial authorities in Hong Kong have unveiled a prototype of the Chinese autonomous territory’s own central bank digital currency called Project Aurum. The two-tier platform features a wholesale interbank and a retail e-wallet system, participants revealed. Hong Kong to Issue Retail Tokens and Stablecoins as Part of Project Aurum A collaboration between the BIS Innovation Hub Hong Kong Centre, the Hong Kong Monetary Authority (HKMA), and the Hong Kong Applied Science and Technology Research Institute has produced a prototype of Hong Kong’s upcoming digital currency, the Bank for....
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The Hong Kong Monetary Authority and the BIS Innovation Hub cooperated on a unique CBDC design that reflects the realities of money issuing in the special administrative region. The Hong Kong Monetary Authority presented its completed Aurum retail central bank digital currency (CBDC) prototype on Oct. 21. The system, developed in conjunction with the Bank for International Settlements (BIS) Innovation Hub, has a unique structure that reflects the intricacies of the existing system for issuing money in Hong Kong.Aurum consists of a wholesale interbank system and retail e-wallet. The....
Hong Kong's de facto central bank is developing a prototype digital currency. The disclosure came in a Hong Kong legislative document published by the Legislative Council Panel on Financial Affair this week and dated 18th April. According to the note, the Hong Kong Monetary Authority (HKMA), which acts as the region's central bank and finance regulator, is working with Hong Kong Interbank Clearing Limited (a clearinghouse in which it has an ownership stake), several undisclosed banks and distributed ledger startup R3 on the initiative. The document explained: "The first phase of the....
The Ethereum venture studio said it will work on implementing Hong Kong and Thailand's cross-border CBDC.
China’s special administrative region of Hong Kong is going to trial а digital version of its dollar as early as this year, in preparation for eventual roll-out. The territory is trying to catch up with those that are already launching central bank digital currencies, including the People’s Republic with its digital yuan project.
Trials of Digital Hong Kong Dollar Planned for Q4
Hong Kong intends to begin testing a currency called the e-HKD, a digital incarnation of the Hong Kong dollar, in the remaining months of the year. The trials will be facilitated by....
Hong Kong is one of the most important financial centres of the world, but with limited space and high demand, property in Hong Kong has always been in short supply. Simplifying home ownership in Hong Kong is therefore a prime concern for the Hong Kong government, which has undertaken a number of measures in the last few years to make home ownership both affordable and easy. The Nikkei Asian Review reported that as recently as early November, the Hong Kong government raised stamp duty to cool down the boiling Hong Kong housing market. This measure of the government was mainly aimed at....