HKMA Partners with France's Central Bank for Eurosystem Test on Tokenised Assets

Thursday, 27 June 2024, 11:00
The Hong Kong Monetary Authority (HKMA) is set to become the inaugural non-European entity to participate in the European Central Bank's Eurosystem tests. This collaboration marks a milestone in the exploration of cross-border transfer and settlement of tokenised assets, as HKMA aligns with France's central bank for this innovative initiative. The partnership signifies a significant step towards global harmonisation in leveraging blockchain technology for efficient cross-border financial transactions, showcasing a progressive approach towards modernising payment systems in a digital era.
South China Morning Post
HKMA Partners with France's Central Bank for Eurosystem Test on Tokenised Assets

Overview

Collaboration with France's Central Bank

  • Hong Kong Monetary Authority to participate in Eurosystem tests
  • Exploration of cross-border tokenised asset transfer

Significance

Strategic Partnership and Innovation

  • First non-European participant in ECB's Eurosystem tests
  • Global harmonisation in blockchain-based transfer

Implications

Progressive Modernisation and Efficiency

  • Advancing cross-border settlement technology
  • Digital era transformation in payment systems

This collaboration between HKMA and France's central bank highlights the pioneering efforts to revolutionise cross-border payment mechanisms on tokenised assets, setting the stage for enhanced global financial integration.

Do you want to advertise here? Contact us

Related posts

Do you want to advertise here? Contact us
Do you want to advertise here? Contact us
Newsletter

We carefully select news from the world of finance and publish it for our users. We understand the importance of reliable and up-to-date information for people in the financial world. Do you want to receive news in a convenient format and always have it at hand — subscribe to our newsletter and make your analytical work more effective.

Subscribe