HKMA advances e-HKD exploration
Authority notes risks around cyber security and removing intermediary banks
The Hong Kong Monetary Authority (HKMA) has taken new steps in its exploration of retail central bank digital currency (rCBDC), which it said would need to be backed fully by US dollar assets in its exchange fund.
Following the publication of a technical paper in October, the second part of its study explores monetary policy transmission, design and security issues, as well as potential impacts on the financial system.
“This paper marks another milestone in our exploration for the e-HKD,”
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