The Hong Kong Monetary Authority has launched the second phase of the Digital Hong Kong Dollar Pilot Scheme and expanded the Digital Hong Kong Dollar Project to explore new digital currencies

On September 23rd, according to the official website of the HKMA (HKMA), the HKMA today launched the second phase of the "Digital Hong Kong Dollar" Pilot Programme to further explore new types of digital currencies that can be used by individuals and businesses, including "Digital Hong Kong Dollar" and tokenized deposits. The project name has been changed to "Digital Hong Kong Dollar +" to reflect the broader exploration of the digital currency ecosystem. The 11 selected groups of institutions will conduct innovative use case studies in three major areas: tokenized asset settlement, programmability and offline payments. The research in this phase will help the HKMA understand the design and operational issues that may be faced in the digital currency ecosystem where public and private coexist.