Today the Hong Kong branches of Standard Chartered and PwC released a whitepaper about the banking and business potential of programmable central bank digital currencies (CBDC). The focus is mainly on the Guangdong–Hong Kong–Macao Greater Bay Area (GBA), but the concepts are applicable globally.
The region has been used for China’s digital yuan pilots. With the recent commencement of Hong Kong eHKD CBDC pilots, multi currency and cross border CBDC scenarios are envisaged.
“The power of CBDCs to create a seamless and innovative digital economy cross-border will be especially important in the context of the Greater Bay Area (GBA),” said Anthony Lin, CEO, GBA, Standard Chartered. “Combining trust and programmability, CBDCs will transform ecosystems and the payments landscape for individuals and businesses across the region and beyond.”
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