Hong Kong is one step nearer to a central financial institution digital foreign money (CBDC) with the discharge of its profitable e-HKD part 1 leads to collaboration with Visa (NYSE:), HSBC, and Financial institution.
In keeping with the November 1 announcement, Visa mentioned that it achieved “close to real-time” finality with transfers involving tokenized deposits of the digital Hong Kong greenback (e-HKD).
“Tokenized deposits have been burned on the sending financial institution’s ledger, minted on the receiving financial institution’s ledger, and concurrently settled interbank through the simulated wholesale CBDC layer,” the funds agency wrote.
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