Introduction
A consortium composed of Huaxia Fund (Hong Kong), Visa, Australia and New Zealand Banking Group, and Fidelity International has unveiled the interim findings from the second phase of the e-HKD+ pilot initiative overseen by the Hong Kong Monetary Authority (HKMA).
Project Overview
This pioneering project delves into the potential of tokenization technologies to revolutionize payment systems, with a particular emphasis on enhancing transaction efficiency while maintaining financial stability and regulatory compliance. As the project advances, participants are set to engage in comprehensive testing of end-to-end transactions, focusing on how the implementation of tokenization can mitigate counterparty risks that arise during settlement processes.
Insights from Huaxia Fund
Zhu Haokang, who leads Digital Asset Management and Family Wealth Management at Huaxia Fund (Hong Kong), expressed enthusiasm about the collaborative effort, stating:
“In the second phase of the e-HKD+ pilot, our partnership with ANZ Bank and Visa aims to leverage tokenized deposits for the acquisition of tokenized funds created by Huaxia (Hong Kong). This venture exemplifies the ability of innovative digital currencies to boost both the efficiency and transparency in the issuance and circulation of fund units. As we progress, this sandbox initiative marks a pivotal achievement in our digital asset roadmap and plays a vital role in sculpting the future landscape of fund management.”
