Bank of China Hong Kong Completes Second Phase of e-HKD Trials on Blockchain
Bank of China Hong Kong has advanced its central bank digital currency (CBDC) initiative, concluding the second phase of e-HKD testing with over 1,500 simulated transactions. The trials involved nearly 500 participants using a unified digital wallet built on BOCHK's proprietary alliance blockchain, linked to mobile banking apps for seamless access.
Test transactions—executed at local coffee shops—required dual digital signatures from users and banks, showcasing real-world applicability. The pilot follows 2023's initial phase, which explored programmable payments, tokenized asset settlements, and government disbursements. Hong Kong Monetary Authority (HKMA) reaffirmed its commitment to CBDC development amid global central bank digitization trends.
