Exploring 11 Use Cases in e-HKD Pilot with Mastercard, BlackRock, and Major Banks
Mastercard and Major Banks Collaborate on e-HKD Pilot
The Hong Kong Monetary Authority (HKMA) has launched the second phase of the e-HKD pilot programme to examine the feasibility of 11 new use cases, specifically focusing on tokenised deposits from commercial banks.
Key Participants in the Pilot Phase
- Mastercard
- Standard Chartered
- BlackRock
- ANZ
- China Mobile
- DBS
In the second phase, we would like to focus not just on the usability, but also the efficiency,” said Howard Lee, HKMA’s deputy chief executive. This initiative aims to evaluate if e-HKD can provide preferable options compared to existing electronic payment methods.
Testing Innovative Use Cases
Among the use cases being tested are the settlement of tokenised assets and programmability, ensuring that users can engage in secure and efficient transactions.
- Settlement of tokenised assets
- Programmable payments through smart contracts
- Offline payments using mobile wallets
The findings from this extensive trial are expected by the end of 2025, showcasing HKMA's commitment to innovation in digital money.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.