Banque de France and HKMA to conduct cross-border CBDC test

The Hong Kong Financial Authority (HKMA) and the Banque de France (BdF) have joined forces to discover the usage of wholesale central financial institution digital foreign money (CBDC) and tokenisation for cross-border transactions.

The HKMA will conduct joint exams with the BdF, beneath the second wave of the European Central Financial institution’s (ECB) Eurosystem exploratory work, the 2 central banks mentioned in a joint assertion on June 27.

The de facto central financial institution in Hong Kong is the primary non-European central financial institution to be collaborating in