Hong Kong CBDC Program Enters Crucial Second Phase: e-HKD Pilot Advances

Hong Kong's central bank digital currency (CBDC) pilot is set to advance to its second phase following the successful completion of phase one. The first phase was, according to industry insiders, a period of valuable learning and refinement, paving the way for more ambitious exploration.

E-HKD Pilot Programme Phase 2 Launched

The HKMA launched Phase 2 of the e-HKD Pilot Programme (Phase 2) in March 2025, inviting industry participants to submit innovative use cases of digital money for Hong Kong. This initiative represents a major stride toward integrating digital currencies into the everyday financial landscape of the region.

Industry Heavyweights Back the e-HKD Initiative

With heavyweight industry players backing the project, Phase 2 promises to delve deeper into the practical applications and potential benefits of a Hong Kong CBDC. The collaboration between the HKMA and these key stakeholders is crucial for ensuring the successful development and adoption of the e-HKD.

Second Phase: A Significant Step in Hong Kong's Digitalization Journey

24 de sept. de 2025 The second phase of the e-HKD pilot marks a significant step in Hong Kong’s journey to digitalize its monetary system. This phase will focus on exploring a wider range of use cases and technical considerations, further solidifying Hong Kong's position as a leader in fintech innovation. The results of this phase are highly anticipated by financial institutions and technology companies worldwide.