The first phase of Hong Kong CBDC trial is completed, and the e-HKD trial enters the second phase

Hong Kong Monetary Authority (HKMA) has announced the successful completion of its internal first-phase trial and is preparing for the second phase of the e-HKD pilot program. The e-HKD pilot program was launched by HKMA in November 2022 to evaluate the commercial feasibility of its internal CBDC as part of its "Fintech 2025" strategy. The first phase was dedicated to researching six areas of electronic HKD, including comprehensive payments, programmable payments, offline payments, tokenized deposits, Web3 transaction settlement, and tokenized asset settlement.