Visa, in collaboration with HSBC and Hang Seng Bank, has successfully completed a pilot test in Hong Kong to study tokenized deposits using central bank digital currencies (CBDCs). The pilot program, part of the “Digital Hong Kong Dollar” initiative organized by the Hong Kong Monetary Authority (HKMA), aimed to...
Cleveland Federal Reserve President Loretta Mester said that even if the U.S. does not issue a central bank digital currency (CBDC), the Fed’s study of the technology will pay dividends. Speaking at the 2022 Chicago Payments Symposium on Oct. 4, Mester said that “given the...
Negotiations on a stablecoin regulatory bill last week indicated that the congressional sense of urgency on a U.S. central bank digital currency (CBDC) isn’t very strong. Reports said that negotiations between House Financial Services Committee Chairwoman Maxine Waters (D-Calif.) and its ranking minority member, Patrick...
There are now more than 10 million users registered for the Hong Kong Monetary Authority’s (HKMA’s) Faster Payment System (FPS), the digital platform that launched in September 2018, according to a South China Morning Post report Tuesday (April 19). FPS allows users to transfer money...
March 07, 2024
Hong Kong’s central bank has launched a wholesale central bank digital currency (wCBDC) project. The effort, dubbed “Project Ensemble,” is designed to support a new financial market infrastructure (FMI) for the development of the Hong Kong tokenization market, the Hong Kong Monetary Authority (HKMA) said in a news release Thursday (March 7). “At the core of Project […]
November 02, 2023
Visa, in collaboration with HSBC and Hang Seng Bank, has successfully completed a pilot test in Hong Kong to study tokenized deposits using central bank digital currencies (CBDCs). The pilot program, part of...
April 19, 2022
There are now more than 10 million users registered for the Hong Kong Monetary Authority’s (HKMA’s) Faster Payment System (FPS), the digital platform that launched in September 2018, according to...
January 12, 2022
The Hong Kong Monetary Authority (HKMA) is weighing regulations for cryptocurrencies and stablecoins, with plans to launch a framework by July. The latest move would align with recommendations from the...
