Hong Kong launches initiative to help banks with DLT adoption
The initiative will initially focus on tokenized deposits with the HKMA providing support to local banks for trials.
The Hong Kong Monetary Authority (HKMA) has launched an initiative to assist banks in adopting distributed ledger technology.
On Jan. 8, the Hong Kong central bank announced the launch of its “Supervisory Incubator for Distributed Ledger Technology,” which aims to help banks safely implement distributed ledger technology into their operations and maximize the benefits.
“As the banking industry continues to evolve, it is essential that we provide a supportive environment for innovation to thrive,” said Arthur Yuen, deputy chief executive of the HKMA.
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Author: Martin Young
