Hong Kong Monetary Authority steps up e-CNY pilot

In order to help residents use the currency in Hong Kong, the HKMA has linked the digital currency with the Faster Payment System. In addition, corporate use cases for cross-boundary trade settlement will be explored.

Andrew Tjaardstra

May 21, 2024

The Hong Kong Monetary Authority (HKMA) and the People’s Bank of China (PBoC) have expanded the scope of a e-CNY pilot in Hong Kong to allow residents to use e-CNY wallets by Hong Kong residents, as well as the top-up of e-CNY wallets through the Faster Payment System (FPS).

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