HKMA investing in digital currency prototype

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The Hong Kong Monetary Authority (HKMA) has begun the first phase of a central bank digital currency project, joining a growing list of central banks exploring the benefits of distributed ledger technology (DLT).

In a document published recently by the legislative council, the HKMA announced it was in the process of creating a digital currency prototype in collaboration with a number of financial institutions and fintech group R3.

“The first phase of the research, which explores the feasibilit