BlackRock, Standard Chartered Hong Kong and Mastercard Announce Tripartite Alliance to Participate in HKMA's Digital Hong Kong Dollar Phase 2 Pilot Programme

According to Hong Kong media reports, Standard Chartered Hong Kong, BlackRock and Mastercard will join forces to participate in the second phase of the "Digital Hong Kong Dollar" pilot scheme launched by the HKMA. The newly formed tripartite alliance will use an end-to-end approach to explore the application case of tokenized investment. This potential solution allows investors to purchase tokenized assets directly from relevant asset managers through digital Hong Kong dollars or tokenized deposits and conduct transaction settlement. Libeara, which is nurtured by SC Ventures, a subsidiary of Standard Chartered Group, will partner with Standard Chartered Hong Kong and BlackRock to provide a platform to jointly promote the potential issuance of tokenized assets through Mastercard's multi-token network.
It is understood that the Hong Kong Monetary Authority has also rebranded the Digital Hong Kong Dollar project as the "Digital Hong Kong Dollar Plus" project, which is understood to be welcomed by participating institutions. The project covers a wider range of innovative applications of digital currencies for individual and corporate users, including digital Hong Kong dollars and tokenized deposits.