Leading cryptocurrency payment company Ripple has landed a key position in Hong Kong’s e-HKD Pilot Program. The program, introduced by the Hong Kong Monetary Authority, aims to work with a select group of firms in the financial, payment, and technology sectors to explore potential uses for the digital Hong Kong dollar (HKD).
Ripple’s involvement in the pilot program, as the only representative from the cryptocurrency industry, highlights its commitment to the CBDC space. Leveraging its broad expertise and experience in this field, the company will concentrate its expertise on the settlement of tokenized assets. Hong Kong aspires to promote innovation, improve financial inclusion, and establish itself at the forefront of the digital currency revolution with the help of Ripple’s skills and the cooperation of industry experts.
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Pound, Euro and Dollar
Ripple’s involvement in the program to create a digital HKD is in line with its broader initiatives to shape the future of the digital economy. It is noteworthy that Ripple has already worked with CBDC on pilot programs for numerous CBDC initiatives, including the digital pound, euro, and dollar.
Continuing in building on its momentum, Ripple announced plans to introduce a CBDC-specific platform based on the exclusive XRP Ledger. This ground-breaking platform intends to enable governments, financial organizations, and central banks to efficiently issue and manage their own digital currencies.