Hong Kong Advances Digital Currency and Fintech Infrastructure Under ’Fintech 2025’ Strategy
Hong Kong’s central bank, the HKMA, is forging ahead with its digital currency initiatives and fintech infrastructure as part of its "Fintech 2025" strategy. CEO Eddie Yue emphasized the importance of robust financial infrastructure, comparing it to a highway that enables the SAFE and efficient movement of capital. The region already operates the Real Time Gross Settlement (RTGS) system across four currencies and the Faster Payment System (FPS), which has expanded cross-border connectivity with Thailand and mainland China.
Yue highlighted the dual need for both 'soft' and 'hard' infrastructure to support Hong Kong’s digital economy. While existing systems like FPS have become integral to daily transactions, the HKMA recognizes the ongoing necessity to strengthen these frameworks to maintain Hong Kong’s position as a global fintech leader.
