France and Hong Kong Collaborate to Advance Global Tokenization Market With CBDC Initiatives

The Banque de France (BDF) and the Hong Kong Monetary Authority (HKMA) have announced a collaboration on wholesale central bank digital currency (wCBDC). This partnership includes the HKMA’s involvement in Wave 2 of the European Central Bank’s Eurosystem exploratory work. The institutions signed a Memorandum of Understanding (MoU) to innovate in wCBDC and tokenization markets, focusing on interoperability between their infrastructures—BDF’s DL3S and HKMA’s Ensemble Sandbox. The collaboration aims to enhance real-time cross-border and cross-currency payments, optimizing settlement efficiency, and facilitating interoperability between financial market infrastructures. Denis Beau, BDF’s first Deputy Governor, and Howard Lee, HKMA’s Deputy Chief Executive, emphasized the initiative’s potential to promote financial inclusion and advance the global tokenization market.

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