Visa Working on Yet Another CBDC in Hong Kong

<p>Visa, along with heavyweights HSBC and Hang Seng Bank, has just put the
finishing touches on a remarkable pilot test of central bank digital currencies
(CBDCs) in Hong Kong. The test was carried out in collaboration with the Hong Kong
Monetary Authority (<a href="https://www.hkma.gov.hk/eng/">HKMA</a>) and was designed
to explore the uncharted waters of tokenized deposits. </p><p>The Digital Hong Kong Dollar Experiment</p><p>The entire endeavor was part of the "<a href="https://www.hkma.gov.hk/eng/key-functions/international-financial-centre/fintech/research-and-applications/central-bank-digital-currency/">Digital
Hong Kong Dollar</a>" <a href="https://www.financemagnates.com/tag/cbdc/" target="_blank" rel="follow">CBDC</a> initiative, a brainchild of the HKMA. The goal was
to dive deep into the potential of this groundbreaking tech for interbank
business-to-business (B2B) payments, in short, it's all about redefining how
money moves between big players in the financial world, according to a <a href="https://www.visa.com.hk/zh_HK/about-visa/newsroom/press-releases/nr-hk-231101.html">press
release</a>.</p><blockquote><p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/CryptoNews?src=hash&amp;ref_src=twsrc%5Etfw">#CryptoNews</a>: <a href="https://twitter.com/hashtag/Visa?src=hash&amp;ref_src=twsrc%5Etfw">#Visa</a>, together with <a href="https://twitter.com/hashtag/HSBC?src=hash&amp;ref_src=twsrc%5Etfw">#HSBC</a> and Hang Seng Bank, has completed the e-HKD pilot programme, a Hong Kong Monetary Authority central bank digital currency (<a href="https://twitter.com/hashtag/CBDC?src=hash&amp;ref_src=twsrc%5Etfw">#CBDC</a>) initiative.