HSBC Bank Pilots e-HKD+ Stablecoin Across Various Blockchains – Chinese CBDC Coming?
2025-07-10 18:33:07
Main Idea
HSBC Bank has successfully piloted the e-HKD+ stablecoin across multiple blockchains and launched Hong Kong's first bank-led on-chain settlement service, as part of the HKMA's CBDC initiative.
Key Points
1. HSBC completed multi-chain trials for the e-HKD digital currency and introduced Hong Kong's first bank-led on-chain settlement service.
2. The experiments were conducted across various public and private DLT environments, including Arbitrum, to explore e-HKD use cases.
3. A survey of over 700 Hong Kong residents and investors revealed that 90% value privacy in digital currency transactions, with 65% of professional investors familiar with e-HKD.
4. HSBC is actively involved in Hong Kong's digital finance initiatives, including Project mBridge, Project Ensemble, and issuing digital green bonds.
5. Hong Kong's Securities and Futures Commission (SFC) has issued a third crypto trading license, with plans to approve more by the end of the year.
Description
HSBC, the largest bank in Hong Kong, has successfully completed a series of blockchain experiments under the Hong Kong Monetary Authority’s (HKMA) Project e-HKD+. These tests were designed to explore the technical and commercial feasibility of issuing a central bank digital currency (CBDC) version of the Hong Kong dollar. HSBC conducted the experiments across a range of both public and private Distributed Ledger Technology (DLT) environments, including Arbitrum, Ethereum, Linea, and Polygon. The...
Latest News
- Russia to Block Data Processing Centers from Mining Crypto with Cheap Power2025-07-10 23:40:57
- Bitcoin Price Hits $117,000 ATH; Trump & Sun Spark Fresh Crypto Frenzy2025-07-10 23:27:43
- Over $500,000 in Crypto Donations Raised For Texas Flood Relief Efforts2025-07-10 22:37:12
- Crypto Q2 Returns Beat Stocks by 3x – Why Smart Money Says the Bull Run Has Already Begun2025-07-10 22:36:49
- ChatGPT’s 42-Signal BNB Analysis Flags $670 Breakout Amid Corporate Treasury Revolution2025-07-10 20:45:02