Hong Kong and Thailand launch next phase of cross-border CBDC project

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Hong Kong: HKMA and Bank of Thailand agree to conduct “further joint research work”

The monetary authorities of Hong Kong and Thailand are moving to the next phase of trialling a blockchain-based, cross-border payments network to facilitate trade settlement, after completing a study that suggests the central bank digital currency (CBDC) solution could reduce transaction costs significantly.

A distributed ledger technology-based (DLT) proof-of-concept (PoC) has been developed with 10 participating banks from both countries, Hong Kong Monetary Authority officials said during a

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