BDF and HKMA Enhance Cooperation in CBDC and Tokenization
The Banque de France (BDF) and the Hong Kong Monetary Authority (HKMA) have signed a Memorandum of Understanding (MoU) to boost collaboration in wholesale central bank digital currency (CBDC) and tokenization.
HKMA’s Commitment to CBDC Interoperability
In an official statement, the HKMA expressed its commitment to exploring interoperability of their CBDC infrastructures and improving efficiency in cross-border transaction settlements.
DL3S Infrastructure and Project Ensemble Sandbox
The BDF has already established the DL3S infrastructure for the CBDC introduction. Meanwhile, the HKMA plans to leverage its Project Ensemble sandbox for research purposes.
Project Ensemble: Focus on Asset Tokenization and CBDC Development
Initiated by the HKMA, Project Ensemble aims to study asset tokenization and develop a CBDC to support these initiatives. The project involves regulators, major banks, and tech firms like HashKey and Microsoft Hong Kong.
Cross-Border Collaborations
The HKMA is participating in the ECB’s DLT testing for tokenized government bonds, focusing on interoperability with the BDF. Simultaneously, the BDF is observing Project mBridge, a major CBDC initiative.
Future of Tokenized Assets
Analysts predict that tokenized financial assets will reach a market size of $2 trillion by 2030, potentially doubling under favorable conditions. Platforms like Securitize and Ondo are driving this growth.
Protocols such as Securitize and Ondo have contributed heavily to this growth.
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