Bank of China Hong Kong advances e-HKD trials with live blockchain test
Bank of China Hong Kong is moving forward with its central bank digital currency (CBDC) project and has completed another phase of testing the digital Hong Kong dollar.
- Bank of China Hong Kong has completed another phase of its digital HKD trials.
- More than 1,500 transactions were tested using simulated e-HKD vouchers.
According to local media on August 5, the Bank of China Hong Kong has wrapped up the second phase of testing for the digital Hong Kong dollar, e-HKD. This phase focused on two use cases to evaluate how the digital currency could work in real-world scenarios.
During the trials, nearly 500 participants were issued a unified digital wallet after completing identity verification. The wallet, built on BOCHK’s own alliance blockchain, was connected to multiple mobile banking applications for easy access and management.
Users then received simulated digital HKD vouchers, which they spent at local coffee shops, completing more than 1,500 test transactions. Each transaction required digital signatures from both the users and the banks.
The latest round of tests follows the first batch of pilots last year, where potential use cases in six categories were tested. This included full-fledged and programmable payments, such as government grant disbursement, offline deposits, tokenized payments, and the settlement of ‘web3’ transactions tokenized assets.
The HKMA said it will continue to collaborate with stakeholders to study the potential use cases of the e-HKD, as well as the challenges and concerns related to its implementation and design ahead of its potential launch.
What is e-HKD?
Unveiled in 2023, the Digital Hong Kong Dollar (e-HKD) is a central bank digital currency (CBDC) project led by the Hong Kong Monetary Authority (HKMA). It is part of a broader initiative called “Digital HKD Plus”, which is aimed at exploring the practical use of digital money in real-life settings, from retail payments to programmable finance.
If rolled out, e-HKD would become a recognized payment method in the region, available for individuals, businesses, and financial institutions. While no formal launch date has been set, the successful completion of the two scheduled pilots suggests a move toward implementation.
Beyond CBDCs, Hong Kong is also embracing privately issued stablecoins. The first stablecoin bill in the region’s history officially came into effect on August 1, establishing a unified licensing and regulation system for the issuance of fiat-denominated stablecoins in the local industry.
Meanwhile, the government also recently released its second policy statement on digital assets, targeting key areas like regulation and local adoption as part of its broader push to build a full-fledged digital ecosystem.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
How much CPO demand will Nvidia Rubin Ultra generate? Bernstein: Optical value per Pod will increase fivefold
Bernstein believes that the co-packaged optics (CPO) and fiber demand driven by Nvidia's Rubin Ultra architecture will surge significantly, with the optical content per Pod rising from $1 million to $5.4 million. This will propel the size of Nvidia's optical ecosystem market to $46.8 billion by 2028 (a 91% annual increase). Although the industry faces supply bottlenecks with InP substrates, the outlook remains positive. The institution reiterates its “outperform” rating for Lumentum, Coherent, and Ciena.
UBS Q3 implements a two-way strategy with gold options, heavily invests in technology stocks, and builds positions in SK Hynix (SKHY.US)
UBS Group (UBS.US) has submitted its Q3 holdings report (13F) as of September 30, 2026.
SpaceX (SPCX.US) reportedly attempts “de-Nvidiaization” at the rack level: developing Kessel cabinets to bypass L6 compute boards, purchasing only chips
SemiAnalysis: SpaceX has developed its own Kessel cabinet, bypassing Nvidia's L6 cards to provide more options for manufacturing its own hardware.
$3.7 billion “data center power equipment prepayments” abandoned! What did "the most active buyer of gas turbines", SoftBank, see?
In the second quarter of fiscal year 2026, SoftBank reported a net loss of $7.1 billion, primarily due to a $3.7 billion impairment charge from a $9.5 billion advance payment for power generation equipment for US data centers—of which about $2.9 billion was non-refundable and effectively lost. The CFO admitted that SoftBank placed orders before the project plan was finalized, and is now conducting a comprehensive review of its procurement strategy. "The most aggressive purchaser of gas turbines has now written off the deposit in this way."
Crypto prices
More
