Banque de France, Hong Kong Monetary Authority Explore CBDC, Token
The Banque de France (BDF) and the Hong Kong Monetary Authority (HKMA) have signed a Memorandum of Understanding (MoU) on Bilateral Cooperation on Central Bank Digital Currency (CBDC) and Tokenization. This work is in addition to several large projects in which the countries are jointly involved.
HKMA and BDF will examine the interaction between CBCC infrastructure and the efficiency of cross-border transaction settlement, HKMA said in a statement. BDF has an infrastructure called DL3S in place for CBDC access. HKMA uses the Project Collection Sandbox for their research.
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So that's what the project collection is for.
The HKMA launched a project suite in March to study asset tokenization research and create a CBDC to support it. The agency went on to form Hong Kong regulators, the Architectural Association, the Bank for International Settlements (BIS), major local banks, HashKey crypto exchange, Ant Digital Technologies and Microsoft Hong Kong. The project was scheduled to begin research in the middle of the year. BDF First Deputy Governor Dennis Bowe said:
“HKMA's recent announcement to launch a project collection was very timely to launch this collaboration. We look forward to further testing our DL3S platform in this context.
HKMA and BDF are members of other projects together. In the same week that the MoU was announced, HKMA joined the European Central Bank's second wave of participants. Those challenges include interoperability between blockchain modules and tokenized government bonds.
E-HDD
BDF is a participant in Project mBridge, the largest CBC-related project to date, and HKMA is one of the first participants.
Hong Kong's CBCC, e-HKD, has been operational since 2021 and is now in the second phase of its pilot phase. He has been particularly active in researching CBDC applications. A complex structured retail e-HKD with BIS was tested in Project Aurum. HMA is involved in projects with BIS and the United Nations to develop “green” bonds and explore real estate tokenization with Ripple and Visa.
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