Hong Kong includes central bank digital currency in fintech strategy
Research into central bank digital currencies will play a significant role in Hong Kong’s fintech development efforts. The Hong Kong Monetary Authority (HKMA) has published its “Fintech 2025” strategy with central bank digital currencies (CBDC), both retail and wholesale, included in the digital finance innovation package.Unveiling the fintech strategy via a release issued on Tuesday, CBDCs will reportedly play a part in the city administration’s goal of promoting comprehensive digital finance adoption by 2025.Concerning its plans for central bank digital currencies, the HKMA revealed that....
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The Hong Kong Monetary Authority (HKMA) plans to guide local banks towards full adoption of fintech technologies, a new strategy reveals. The region’s central banking institution also stressed that it’s going to “walk the talk” by digitalizing its own supervision of financial institutions. Hong Kong Central Bank to Support Fintech Development Hong Kong’s monetary policy regulator has presented its new strategy to stimulate the fintech development of China’s special administrative region. With the strategy, HKMA aims for a comprehensive adoption of new....
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Hong Kong's de-facto central bank intends to launch an innovation hub that will test blockchain and distributed ledger solutions. The Hong Kong Monetary Authority (HKMA) revealed yesterday it has begun work on the initiative with the Hong Kong Applied Science and Technology Research Institute (ASTRI), an initiative founded by the government to enhance its competitiveness in technology. In statements, the HKMA said it sees the innovation hub as playing a role as a "neutral ground" for the testing of financial technology prior to its eventual release. The announcement coincided....