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The Hong Kong Monetary Authority states it is simultaneously testing CBDC, tokenized deposits, and stablecoins
ME News Report, April 16 (UTC+8), on April 15, Hong Kong Monetary Authority Deputy Chief Executive Chen Weimin stated at the HSBC Investment Summit that Hong Kong is simultaneously experimenting with three paths: central bank digital currency (CBDC), tokenized deposits, and stablecoins. It is currently unknown what the final form of future currency will be; the goal is to explore all three tracks, but it is believed that ultimately, people’s trust will still be based on sovereign central bank currency. Based on this, tokenized deposits can be developed as a form of commercial bank currency, while stablecoins backed by fiat currency are more conducive to adoption by the younger generation, but the underlying trust still relies on sovereign currency. (Source: MLion)