{"id":6058,"date":"2024-07-30T01:50:25","date_gmt":"2024-07-30T01:50:25","guid":{"rendered":"https:\/\/acudc.com\/?p=6058"},"modified":"2024-07-30T01:57:13","modified_gmt":"2024-07-30T01:57:13","slug":"hong-kong-creates-community-for-wholesale-cbdc-project-ensemble","status":"publish","type":"post","link":"https:\/\/acudc.com\/th\/hong-kong-creates-community-for-wholesale-cbdc-project-ensemble\/","title":{"rendered":"Hong Kong creates \u2018community\u2019 for wholesale CBDC Project Ensemble"},"content":{"rendered":"<div data-elementor-type=\"wp-post\" data-elementor-id=\"6058\" class=\"elementor elementor-6058\">\n\t\t\t\t\t\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-section elementor-top-section elementor-element elementor-element-624d676d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"624d676d\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-5b01699e\" data-id=\"5b01699e\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-309872b elementor-widget elementor-widget-image\" data-id=\"309872b\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.7.2 - 21-08-2022 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"937\" height=\"621\" src=\"https:\/\/acudc.com\/wp-content\/uploads\/2024\/07\/News0724.02.png\" class=\"attachment-large size-large\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/acudc.com\/wp-content\/uploads\/2024\/07\/News0724.02.png 937w, https:\/\/acudc.com\/wp-content\/uploads\/2024\/07\/News0724.02-300x199.png 300w, https:\/\/acudc.com\/wp-content\/uploads\/2024\/07\/News0724.02-768x509.png 768w, https:\/\/acudc.com\/wp-content\/uploads\/2024\/07\/News0724.02-18x12.png 18w\" sizes=\"(max-width: 937px) 100vw, 937px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7d5cd177 elementor-widget elementor-widget-text-editor\" data-id=\"7d5cd177\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.7.2 - 21-08-2022 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#818a91;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#818a91;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<h2><!-- wp:list --><\/h2>\n<ul><!-- wp:list-item -->\n<li>\n<p>In March the Hong Kong Monetary Authority (HKMA) unveiled Project Ensemble, which includes a new wholesale central bank digital currency (wholesale CBDC). It will provide a sandbox to enable interoperability between the CBDC, tokenized deposits and tokenized assets. Today it announced the creation of an Architecture Community for the project. In addition to regulators and the existing academic CBDC Expert Group, it includes seven private sector companies.<\/p>\n<p>They include four banks \u2013 Bank of China (Hong Kong), Hang Seng Bank, HSBC and Standard Chartered Hong Kong \u2013 plus Hashkey Group, Ant Digital Technologies and Microsoft Hong Kong. Hashkey Group owns one of two Hong Kong-regulated cryptocurrency exchanges and runs a brokerage, asset manager and tokenization platform, amongst other entities. Ant was recently involved in a tokenized deposit trial with HSBC.<\/p>\n<p>The first task of the Community is to make recommendations about using the wholesale CBDC for interbank settlement of tokenized deposits. And the second initiative is the design and implementation of the sandbox which will launch mid-year.<\/p>\n<p>In addition to the HKMA, the regulators participating in the Community include the Securities Futures Commission and the BIS Innovation Hub Hong Kong.<\/p>\n<p>Meanwhile, in March, the Boston Consulting Group (BCG), Hong Kong Telecom, and others published research showing that digital currencies, including CBDCs, tokenized deposits, and stablecoins, could add HK$160 billion (US$20.5bn) or 0.5% to GDP by 2032.<\/p>\n<p>\u00a0<\/p>\n<p>Retrieved from: <a href=\"https:\/\/www.ledgerinsights.com\/hong-kong-community-for-wholesale-cbdc-project-ensemble\/\">https:\/\/www.ledgerinsights.com\/hong-kong-community-for-wholesale-cbdc-project-ensemble\/<\/a><\/p>\n<\/li>\n<\/ul>\n<!-- \/wp:paragraph -->\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"","protected":false},"author":6,"featured_media":6054,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-global-header-display":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":""},"categories":[15,9],"tags":[27,28],"_links":{"self":[{"href":"https:\/\/acudc.com\/th\/wp-json\/wp\/v2\/posts\/6058"}],"collection":[{"href":"https:\/\/acudc.com\/th\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/acudc.com\/th\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/acudc.com\/th\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/acudc.com\/th\/wp-json\/wp\/v2\/comments?post=6058"}],"version-history":[{"count":5,"href":"https:\/\/acudc.com\/th\/wp-json\/wp\/v2\/posts\/6058\/revisions"}],"predecessor-version":[{"id":6063,"href":"https:\/\/acudc.com\/th\/wp-json\/wp\/v2\/posts\/6058\/revisions\/6063"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/acudc.com\/th\/wp-json\/wp\/v2\/media\/6054"}],"wp:attachment":[{"href":"https:\/\/acudc.com\/th\/wp-json\/wp\/v2\/media?parent=6058"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/acudc.com\/th\/wp-json\/wp\/v2\/categories?post=6058"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/acudc.com\/th\/wp-json\/wp\/v2\/tags?post=6058"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}