Auzzi Shopping

The Times Real Estate

.

Today's Features at Auzzi

The Unexpected Design Trick That Makes Small Outdoor Areas Feel Bigger

Small outdoor spaces can be incredibly charming — but they can also be tricky to design. It doesn’t take much for a compact courtyard, balcony, or patio to feel cramped or cluttered. A...

Avoid These 5 Common Mistakes When Buying a Second-Hand Car in Brisbane

Buying a second-hand vehicle in Brisbane can be a fun and affordable way to hit the road. From a trusty sedan to a roomy SUV to a performance hatchback, plenty of options are available in ...

Can Skin Needling Help With Acne Scars and Pigmentation?

Acne scars and pigmentation are two of the most common skin concerns in Hobart. Whether left behind after teenage breakouts or developed later due to hormonal shifts and sun exposure, unev...

A Step‑by‑Step Guide to Setting Up Utilities and Booking Movers Before Move‑In

Moving to a new place is exciting and challenging, but planning in advance to set up utility services and hiring movers before move‑in brings key benefits. You save time, avoid service g...

Sweet Without the Spike: Understanding Diabetic Friendly Chocolate

For those controlling blood sugar levels diabetic friendly chocolate provides a delectable substitute without compromising pleasure or indulgence. This speciality chocolate helps lessen...

6 Tips for Mastering Exam Techniques in Maths

When it comes to acing your HSC maths exams, mastering exam techniques can be just as important as knowing the content. For many students, maths tutoring is a valuable resource that helps ...

Navigating Australian Governance: The Essential Role of Resident Director Services

For companies looking to establish or expand their operations Down Under, understanding and adhering to these regulations is paramount. This is where Resident Director Services in Australi...

Secured Lending Application Selected for HKMA's Inaugural e-HKD Pilot Programme for Retail Central Bank Digital Currency (CBDC) Assessment

  • Written by Auzzi Shopping
  • The Hong Kong Monetary Authority (HKMA) has selected a secured lending application of e-HKD for the inaugural e-HKD pilot programme
  • The proposed solution is led by Boston Consulting Group (BCG), HKT Payment Limited and ZA Bank, who will partner with paywith.glass and Venture Smart Financial Holdings Limited (VSFG) as a consortium during the pilot
  • The e-HKD Pilot Programme is in line with HKMA's three-rail approach, announced in September 2022, aimed at preparing for potential e-HKD implementation

Hong Kong SAR - Media OutReach - 18 May 2023 - The Hong Kong Monetary Authority (HKMA) has shortlisted a financial solution in a secured lending product backed by tokenized real assets for participation in the inaugural e-HKD Pilot Programme. This proposed solution is led by Boston Consulting Group (BCG), HKT Payment Limited and ZA Bank. They will be joined by paywith.glass and Venture Smart Financial Holdings Limited (VSFG) as a consortium to collectively develop and evaluate this application, leveraging the potential programmability feature of e-HKD.

The consortium will bring together key players from various industry verticals to foster long-term e-HKD development, leveraging their collective cross-industry experience and ensuring a diverse range of perspectives. The initial focus will be on leveraging e-HKD's potential features to empower new applications in a secured lending product, as part of the e-HKD Pilot Programme.

The e-HKD Pilot Programme is part of HKMA's strategic three-rail approach to prepare for potential e-HKD implementation. Rail 1 focuses on establishing the necessary technological and legal foundations, while Rail 2, running concurrently with Rail 1, is aimed at conducting in-depth exploration of e-HKD use cases and addressing implementation and design issues. Rail 3 concerns the rollout of e-HKD.

Saurabh Tripathi, Managing Director & Senior Partner and Global Leader of Financial Institutions Practice at BCG remarked: "We are thrilled to support the impressive e-HKD development in Hong Kong. Retail Central Banking Digital Currency (CBDC) is a significant development in the financial system, and we're eager to share our expertise to support the exploration of e-HKD benefits for retail use cases."

Susanna Hui, Group Managing Director at HKT, stated: "As an advocate of FinTech and digital economy, HKT is delighted to be a partner of this project and leverage our experience from Tap & Go to facilitate Web3.0 development and explore potential e-HKD use cases in Hong Kong."

Paul Sisnett, CEO & Co-Founder at paywith.glass, commented: "We are dedicated to apply our experience from other markets to support the use case development of e-HKD through the e-HKD Pilot Programme."

Lawrence Chu, Co-Founder & Group Executive Chairman at VSFG, stated: "Introducing an enhanced form of money requires meticulous planning. We anticipate this cross-industry collaboration will generate valuable data to facilitate e-HKD assessment."

Ronald Iu, CEO of ZA Bank, shared: "ZA Bank has always been at the forefront of Hong Kong's FinTech development. It is an honor to team up with leading industry players to support the HKMA's e-HKD initiative. This also marks another step of our journey towards the 'Banking for Web3' ambition for building an inclusive financial ecosystem."

Hashtag: #PCCW #HKT #eHKD #DigitalEconomy #SmartCityDevelopment #web3


The issuer is solely responsible for the content of this announcement.

About HKT Limited

HKT is a technology, media, and telecommunication leader with more than 150 years of history in Hong Kong. As the city's true 5G provider, HKT connects businesses and people locally and globally. Our end-to-end enterprise solutions make us a market-leading digital transformation partner of choice for businesses; whereas our comprehensive mobile communication and smart living offerings enrich people's lives and cater for their diverse needs for work, entertainment, education, well-being, and even a sustainable low-carbon lifestyle. Together with our digital ventures which support digital economy development and help connect Hong Kong to the world as an international financial centre, HKT endeavours to contribute to smart city development and help our community tech forward.

For more information, please visit .

LinkedIn: