The Hong Kong Monetary Authority launches the second phase of the "Digital Hong Kong Dollar" pilot program and expands the "Digital Hong Kong Dollar" project to explore new digital currencies

According to the official website of the Hong Kong Monetary Authority (HKMA), the HKMA has launched the second phase of the "Digital Hong Kong Dollar" pilot program today, further exploring new digital currencies that individuals and businesses can use, including the "Digital Hong Kong Dollar" and tokenized deposits. The project name has been changed to 'Digital Hong Kong Dollar+' to reflect a broader exploration of the digital currency ecosystem. The 11 selected institutions will conduct innovative use case research in three major areas: tokenized asset settlement, programmability, and offline payments. This stage of research will help the Hong Kong Monetary Authority understand the design and operational issues that may be faced in a public-private coexistence digital currency ecosystem.