The Hong Kong Government cooperates with a CCIP operating protocol for the cross -border transactions between the ear and ear groups, as well as settlements using different types of digital assets.
The partnership is part of the second phase of the Hong Kong Central Bank initiative (CBDC). According to For a report of the payment company visa, the initiative will include a virtual Australian investor who wants to purchase symbolic assets in Hong Kong.
After the purchase request at Stablecoin associated with Australia, the transaction will be directed through interactions across multiple groups. Finally, the assets purchased find their way to the investor portfolio, designed in CBDC in Hong Kong.
CCIP plays ChainLink a role in communication between different Blockchains. According to the company, CCIP lives on dozens of Blockchains, including ETHEREUM compatible with the device and Solana virtual compatible with the device. In the case of Hong Kong study, Ethereum Testnet Sepolia will be used.
The main partners of the study are a visa, as a technology provider, Australia Group, New Zealand Banking Group (AZ), Chinaamc and Fidelity International. This study is one of the many that the Hong Kong government is a mandate to explore the possible CBDC cases.
This study focuses on an interaction examination between the required Blockchains and ear. Blockchains is evaluated for its privacy and control, which makes it easy to apply compliance and verify the user’s identities. In contrast, Blockchains provides without extensive decentralization and open participation, giving them a strong distribution effect.
Hong Kong Cash Authority (HKMA) Start The second stage of the Hong Kong CBDC program on September 23, 2024. During this stage, 11 groups of companies will explore the use of CBDC, called E-HKD. The results of these studies are expected to be published by the end of 2025.
Related to: What is CBDC? Why do central banks want to enter into digital currencies
CBDC appears to be cooling
According to a survey in February 2025, only 18 % of central banks around the world It tends to issue a digital currency for the Central BankCompared to 38 % in 2022, indicating that interest in CBDCs may be a cooling.
However, some countries and economic blocs pressure their CBDC plans. In March, Israel I released a preliminary design for a digital shekel. In February, the European Union It discovers the efforts made to develop the CBDC platform.
magazine: Asia Express: India highlights a new encoder to support CBDC, Lazarus Group Strikes again
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