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Hong Kong will launch a wholesale CBDC for settling tokenized government bonds by the end of the year

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According to Ledger Insights, the Hong Kong Monetary Authority plans to launch a wholesale central bank digital currency (wCBDC) for interbank settlement by the end of this year, as part of Project EnsembleTX, for 24-hour settlement of tokenized deposit transactions.The project is set to enter the real transaction pilot phase by the end of 2025, but currently, interbank settlements still rely on the RTGS system that operates only during working hours. The wCBDC will be used to address this limitation. In addition, the wCBDC is also planned to be used for the settlement of over-the-counter derivatives trading on the Hong Kong Stock Exchange (HKEX), with the goal of implementing related real fund transactions within this year.

This content is for informational and educational purposes only and does not constitute investment advice related to BTCC. BTCC makes every effort but cannot guarantee the truthfulness, accuracy, or originality of the content above.