The Hong Kong Monetary Authority plans to launch a wholesale central bank digital currency wCBDC before the end of the year

The Hong Kong Monetary Authority plans to launch a wholesale central bank digital currency wCBDC by the end of this year for interbank settlement and 24-hour tokenized deposit trading settlement under the Project Ensemble TX project. The project has entered the real trading pilot phase by the end of 2025. wCBDC will solve the current limitation of interbank settlement relying on the RTGS system during working hours, and plans to use it for settlement of derivative trading during the HKEX off exchange period of the Hong Kong Stock Exchange. The relevant real fund trading targets will be implemented within this year. (Source: Ledger Insights)