Hong Kong Monetary Authority collaborates with Central Bank of Brazil and Central Bank of Thailand on cross-border tokenization project

DailyNews

2024-10-28 07:30:33

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Golden Finance reported that the Hong Kong Monetary Authority announced today that it will collaborate with the Central Bank of Brazil to conduct cross-border tokenization experiments under the Ensemble project and the Drex pilot program. The experimental Central Bank digital currency (CBDC) infrastructure of both parties (i.e., the Ensemble sandbox and the Drex testing platform) will be connected to explore use cases in cross-border synchronous delivery (PvP) and Delivery versus Payment (DvP) Settlement in areas such as trade financing and voluntary emission reduction (carbon credit) fields. On the same day, the Hong Kong Monetary Authority announced a collaboration with the Central Bank of Thailand to jointly explore cross-border tokenization use cases under the Ensemble project and the San project.

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