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Hong Kong Pilots Chainlink Protocol for Cross-Border CBDC and Stablecoin Settlement

  • Hong Kong is piloting a cross-border project for its central bank digital currency (CBDC) with Chainlink's CCIP, facilitating transactions between e-HKD and an Australian stablecoin.
  • The e-HKD+ Pilot Program involves collaboration with Visa, ANZ, Fidelity, and others to explore secure transactions across permissioned and public blockchains, utilizing Chainlink for interoperability.
  • Chainlink's CCIP enables atomic settlement between ANZ's A$DC stablecoin and Hong Kong's e-HKD, reducing the risk of transaction failures and supporting regulatory requirements for cross-border digital asset transfers.
  • The initiative signifies potential global influence in finance with tokenized assets and stablecoins, as the HKMA progresses its CBDC pilot and industry experts predict significant market growth for these digital assets by 2030.

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