HSBC Bank Pilots e-HKD+ Stablecoin Across Various Blockchains – Chinese CBDC Coming?

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.