The Hong Kong Monetary Authority's Digital Hong Kong Dollar Pilot Program was recently completed, and Yu Weiwen, president of the Hong Kong Monetary Authority, said that the "digital Hong Kong dollar" (e-HKD) and tokenization-related work are part of a grand vision to establish a complete digital currency framework, which promotes the complementary coexistence of different forms of tokenized currencies such as digital Hong Kong dollars, tokenized deposits and regulated stablecoins.
Writing on October 30, 2025, Mr. Yu revealed that the blueprint for the next stage of Hong Kong's fintech development will be announced at the 10th Fintech Week in Hong Kong next week, ensuring that Hong Kong continues to be at the forefront of fintech.
The HKMA outlined the framework of Hong Kong's digital currency at the technical launch of the second phase report of the "Digital Hong Kong Dollar" pilot scheme held on October 28, dividing it into "public money" and "private money". Digital Hong Kong dollars are issued by the HKMA and are classified as public money. According to the issuer, tokenized deposits issued by commercial banks, electronic stored value facilities such as WeChat and Alipay issued by Hong Kong licensees, and regulated stablecoins are classified as private money.
Hong Kong Monetary Authority: The digital Hong Kong dollar is a public currency, while regulated stablecoins are private currencies
2025-10-30 07:03:57
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