These included: (1) the HKMA and the Bank of Thailand will launch a system that will allow visitors to make instant payments to merchants in both places. (2) HKMA will explore further use cases for distributed ledger technology in capital markets, including the issuance of a second tokenized government green bond; and (3) HKMA will commence the next phase of its e-HKD pilot program in 2024.

Called Project Sela, the research will study the data security implications of a two-tier retail CBDC architecture where the intermediaries will have no financial exposure, and pioneer methods of making it more resilient to cyber-attacks. The Project is expected to be completed by the end of 2022.

The HKMA  also published an insight article 'Four essential Q&As for e-HKD'.

In terms of technology, he said "solid foundations" have been laid that have "already made virtual banking and faster payments a part of daily life."  

He also said the digital transformation is being accelerated by encouraging all banks to "harness the power of data to promote financial efficiency and inclusion. We are pioneering research and pilot schemes in domestic and cross-border central bank digital currencies.  We are very pleased that the PBoC is our close partner in the m-CBDC Bridge project and the technical trials for cross-boundary use of e-CNY."