The HKMA set up Project Ensemble months ago. Now we know why.
The Banque de France (BDF) and the Hong Kong Monetary Authority (HKMA) have signed a Memorandum of Understanding (MoU) on bilateral collaboration on wholesale central bank digital currency (CBDC) and tokenization. This work is in addition to the numerous larger projects the countries participate in together.
The HKMA and BDF will explore interoperability between their CBDC infrastructures and cross-border transaction settlement efficiency, the HKMA said in a statement. The BDF has infrastructure, called DL3S, in place for the introduction of a CBDC. The HKMA will use the Project Ensemble sandbox for their research.
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