HKMA Publishes the “e-HKD Pilot Programme Phase 1 Report”

The HKMA has released the “e-HKD Pilot Programme Phase 1 Report,” which discusses the findings and assessment of 14 pilots conducted by 16 participating firms. The report highlights the potential benefits of an e-HKD, including faster and more cost-efficient transactions, programmability, tokenization, and enabling new economic transactions. However, the pilots were conducted on a small scale, and further investigation is needed to determine if these benefits can be realized on a larger scale. The HKMA has not yet decided on the introduction of an e-HKD but will use the insights gained from Phase 1 to refine its approach. The next phase will explore new use cases and delve deeper into select pilots.

Phase 1 Report:



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