Advancing CBDCs and a virtual asset regime: perspectives from Hong Kong

In June 2023, Hong Kong rolled out its new crypto regime, paving the way to become a worldwide hub for digital asset trading. The Hong Kong Monetary Authority launched its retail central bank digital currency programme while also advancing Project mBridge, its multi-CBDC project, with the central banks of China, Thailand and the United Arab Emirates, as well as Bank for International Settlements Innovation Hub.

To delve into these initiatives, OMFIF’s Digital Monetary Institute is convening a high-level roundtable in Hong Kong, with Bénédicte Nolens, head of the BIS Innovation Hub Hong Kong, and Yvonne Tsui, senior fintech director at the HKMA.

The roundtable brings together 25-30 senior leaders from central banks, financial services firms, payment providers and technology companies to discuss Project mBridge, the proposed digital Hong Kong dollar and the implications of the new virtual asset regime. Participants share perspectives on the opportunities and challenges involved in enabling CBDC interlinkages, both in the Hong Kong-Mainland corridor and more broadly.