DBS Hong Kong Completes Pilot Test of 'e-Hong Kong Dollar+' Project Based on Central Bank Digital Currency Technology

BlockBeats News, September 16th, according to the Hong Kong Economic Times, DBS Hong Kong has announced the completion of the HKMA's e-Hong Kong Dollar CBDC pilot phase 2 testing, exploring how tokenization and programmability can enhance digital fiat applications.

This pilot project is supported by DBS Bank's Tokenization Service, integrating tokenization and smart contract technology with the bank's banking transaction services, using Purpose-Bound Money (PBM) technology to test adding specific spending conditions to digital currencies such as the e-Hong Kong Dollar. The related applications can be extended to other reward programs, financial management, supply chain payments, and enhanced payment process management.