The Hong Kong Monetary Authority launched the SAGE project and established an expert panel.

The Hong Kong Monetary Authority (HKMA) launched the SAGE project to promote the development of agency finance and established an expert panel composed of financial institutions, technology service providers, professional service organizations, and academics. The SAGE project focuses on exploring B2C, B2B, and M2M application scenarios, studying KYA (Know Your Customer) identity verification mechanisms, promoting discussions on interoperability standards, and exploring legal and regulatory issues such as governance arrangements, legal liability, and consumer protection.