HKMA partners with Thailand and Brazil on cross-border tokens
Interoperability work using tokenisation will focus on settlement in trade finance and carbon credits
The Hong Kong Monetary Authority (HKMA) is collaborating with the Bank of Thailand (BoT) and Central Bank of Brazil (BCC) to explore cross-border tokenisation use cases, it announced on October 28.
The proof-of-concept development with the Bank of Thailand will test linking tokenised money between distributed ledger infrastructure under the HKMA’s Project Ensemble and the Bank of Thailand’s Project San.
Project Ensemble is the HKMA’s wholesale central bank digital currency (CBDC) financial market
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