The Hong Kong Monetary Authority (HKMA) has concluded the first pilot project of the e-HKD, a retail central bank digital currency (CBDC), but remains undecided on whether to introduce it. While CBDCs have the potential to offer unique benefits, the HKMA emphasized the need for further research into their potential impact on the monetary system. The pilot program, launched as part of the “Fintech 2025” strategy, explored various use cases for an e-HKD, involving 16 firms from the financial, payment, and technology sectors. The report highlighted the potential of CBDCs to facilitate faster, more cost-effective, and more inclusive transactions, but also acknowledged that existing inefficiencies are not solely due to technological shortcomings. The HKMA has not committed to a policy decision regarding the introduction and timing of an e-HKD, stating that further investigation is needed. The regulator will continue to study the business and implementation issues in the upcoming phases of the program.

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Information	Details
Geography	Asia
Countries	🇭🇰
Sentiment	neutral
Relevance Score	1
People	None
Companies	payment, e-HKD Pilot Programme, financial, technology sectors, HKMA
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