HKMA investing in digital currency prototype
HKMA continues to build on its DLT research through digital currency venture with commercial banks
The Hong Kong Monetary Authority (HKMA) has begun the first phase of a central bank digital currency project, joining a growing list of central banks exploring the benefits of distributed ledger technology (DLT).
In a document published recently by the legislative council, the HKMA announced it was in the process of creating a digital currency prototype in collaboration with a number of financial institutions and fintech group R3.
“The first phase of the research, which explores the
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