Hong Kong Monetary Authority (HKMA)

📢 The HKMA announced its collaboration with the Banco Central do Brasil (BCB) to link their experimental CBDC infrastructures – the Ensemble Sandbox and the Drex pilot platform – and conduct cross-border tokenisation experiments as well as explore use cases in different areas, including trade finance and carbon credits. Both central banks recently unveiled their latest rounds of experimentations involving CBDCs and tokenised assets. This collaboration will provide an invaluable opportunity to further delve into interoperability issues of DLT financial market infrastructures and evaluate the opportunities and challenges of cross-border tokenisation. Read the full press release here: https://lnkd.in/g4GwiXZG #HKMA #BCB #ProjectEnsemble #Drex #TokenisingTogetherTodayAndTomorrow #Tokenisation #Collaboration 

The HKMA is partnering with Bank of Thailand (BOT) to explore cross-border tokenisation use cases under Project Ensemble and Project San, focusing on Payment versus Payment (PvP) and Delivery versus Payment (DvP) applications. The collaboration also aims to investigate the interoperability aspects of innovative distributed ledger technology (DLT) financial market infrastructures. The two jurisdictions will soon begin the technical integration of their platforms, testing an experimental linkage between the Ensemble Sandbox and BOT’s DLT-integrated financial market infrastructure. Read more here: https://lnkd.in/gK5VGqps #HKMA #BOT #ProjectEnsemble #ProjectSan #Tokenisation #TokenisingTogetherTodayAndTomorrow #Collaboration 

The ninth edition of the city’s flagship fintech event has officially begun! The HKMA, along with Invest Hong Kong, co-organised Hong Kong FinTech Week, bringing together global participants from key industries on its opening day. Throughout the week, attendees will gain insights on innovative concepts, exchange fintech experiences and secure potential business partnerships. Eddie Yue, Chief Executive of the HKMA, highlighted the importance of embracing the digital frontier to drive the next phase of financial innovation in his opening remarks. 💡The HKMA has announced a number of initiatives in this FinTech Week that will further shape the journey of fintech development in Hong Kong, such as accelerating asset tokenisation, cross-boundary linkage on payment systems, improvements in data infrastructure and the launch of Fintech Connect. Stay tuned for updates! Click here for more details: https://lnkd.in/gqj6D7Yz #HKFTW #HKFTW24 #HKMA #FinTechHK #Fintech 

The annual Hong Kong FinTech Week will officially take place from 28 October to 1 November 2024. The main conference will be held from 28 to 29 October at the AsiaWorld-Expo, featuring eight dedicated forums that delve into various key topics in fintech. Eddie Yue, Chief Executive of the HKMA, will deliver the keynote address, along with other executives who will be moderating and participating in several panels covering pivotal topics such as Generative A.I. (#GenAI), tokenisation, digital money, digital economy, cross-border payments, the future of capital markets and fintech innovations. To learn more about the HKMA’s participation this year at Hong Kong FinTech Week, refer to the event agenda at https://lnkd.in/gwi-fHjn. Secure your tickets now: https://lnkd.in/gsSXNyU. * Please refer to the official website for the latest agenda details. #HKFTW #HKFTW24 #HKMA #FinTechHK #Fintech

Howard Lee, Deputy Chief Executive of the HKMA, engaged in a thought-provoking virtual fireside chat with Denis Beau, First Deputy Governor of Banque de France (BdF), delving into the opportunities and challenges presented by the tokenisation of finance. Over the past few years, both the HKMA and BdF have been at the forefront of pioneering research and experiments focused on wholesale Central Bank Digital Currencies (wCBDCs) and innovative tokenisation applications. The collaboration between the two central banks has recently taken a significant step forward with a joint experiment investigating cross-border Payment versus Payment (PvP) settlement of wCBDCs. This initiative connects the HKMA’s Ensemble Sandbox with BdF’s DL3S, showcasing their commitment to leveraging Distributed Ledger Technology (DLT) for a more efficient and interconnected financial ecosystem. Watch the video below to gain insights from these two leading central bank representatives as they share their initiatives and considerations to support the tokenisation of finance. Full virtual dialogue: https://lnkd.in/gjunQgsD #Tokenisation #ProjectEnsemble #Collaboration #HKFTW2024 #HKFTW #BdF #TokenisingTogetherTodayAndTomorrow

The HKMA recently hosted the Interbank Account Data Sharing (IADS) Showroom Day. But what exactly is IADS and what are the benefits? 🔎 The IADS programme is formulated by the HKMA and was launched with the support of the banking industry. It allows customers to share their bank account data securely and efficiently between any of the 28 participating banks. Most importantly, IADS is a strictly “opt-in” programme. Each participating bank must obtain customers’ explicit consent before sharing or viewing account data, and customers can revoke these permissions for any bank at any time. Currently, 7 banks have launched IADS products to selected customers, and other banks will gradually launch related products. Expected benefits include more streamlined loan application processes, more personalised banking services, easier financial planning for customers due to integrated account viewing, and more. Details: https://lnkd.in/djmQFep2 #HKMA #Banking #HongKongEconomy #Finance #Data

Today, the HKMA hosted the Interbank Account Data Sharing (IADS) Showroom Day. We are grateful for the attendance and support from all 28 participating banks, The Hong Kong Association of Banks, and HKSTP - Hong Kong Science and Technology Parks Corporation at the event. The IADS’ pilot programme commenced on 1 January 2024, and aims to allow customers to securely and efficiently share their bank account data with other banks subject to customer consent. Showroom Day highlights: 🌐 There were 18 booths to showcase banks’ IADS applications. 🎤 Retail- and SME-focused panel discussions took place on stage, where experts shared insights into various key issues. 🤝 The HKMA collaborated with HKSTP to announce the launch of IADS Developer Platform to facilitate the development of more innovative data-driven products and services. The IADS is an important step towards realising a more digitalised and streamlined financial ecosystem. For more details, read here: https://lnkd.in/gpcpyMCV #HKMA #Banking #HongKongEconomy #Finance #Data

The Global Financial Leaders' Investment Summit 2024, the premier gathering of financial leaders, returns on 18-20 November! Under the theme "Sailing through Changes", the third Global Financial Leaders' Investment Summit will convene hundreds of distinguished leaders, including more than 100 group chairpersons and CEOs from across the financial sector. Participants will engage in thought-provoking discussions on macro challenges, market trends, opportunities in Asia and China, technological innovations, and climate change. All three days will feature exciting events. The curtain-raiser will be a welcome dinner taking place in the evening of 18 November. This year, we move from the West Kowloon Cultural District to a new landmark building in Central. The main summit will take place on 19 November, followed by the “Conversations with Global Investors” investment forum on 20 November, jointly hosted by the HKMA, Securities and Futures Commission (SFC), and Hong Kong Academy of Finance (AoF). Preparation for the Summit is well under way. We look forward to welcoming financial leaders from across the world. Stay tuned for the YouTube livestream to participate in this premier gathering with leading figures from the world of finance and gain valuable insights! For more details, read Chief Executive Eddie Yue's inSight article here: https://lnkd.in/g6cdzYiC #GFLInvestmentSummit2024 #InvestmentSummit #Finance #Investment #GlobalGrowth #Inflation #Technology #Sustainability #Change

Today, we officially announced the HKMA’s Sustainable Finance Action Agenda. It’s time to consolidate our actions towards a more sustainable financial system to support the transition. 🌏 The agenda outlines the HKMA’s sustainability priorities and action plan to support green and sustainable financing needs at local, regional, and global levels. Our initiatives are structured around eight goals in four areas: I. Banking for net zero 1. Drive all banks to achieve net zero in their operations by 2030 and in their financed emissions by 2050. 2. Enhance transparency on climate-related risks and opportunities across all banks. II. Investing in a sustainable future 3. Achieve net-zero emissions for the Investment Portfolio of the Exchange Fund by 2050. 4. Support regional transition through strategic investment by the Exchange Fund. III. Financing net zero 5. Develop Hong Kong into the premier sustainable financing platform for the region and beyond. 6. Accelerate innovation in sustainable finance. IV. Making sustainability more inclusive 7. Support high-quality and comprehensive sustainability disclosures. 8. Close talent and knowledge gaps in sustainable finance across the region. The press briefing began with remarks by Eddie Yue, Chief Executive of the HKMA. Arthur Yuen, Deputy Chief Executive; Donald Chen, Executive Director (Banking Policy); Kenneth Hui, Executive Director (External); and Leong Cheung, Chief Strategy Officer, then elaborated on the four areas of the agenda and discussed the eight goals with the media. Want to learn more about our Sustainable Finance Action Agenda? Click here: https://lnkd.in/gNaQauGg #GreenFinance #Sustainability #SustainableFinance #SustainabilityDisclosures #NetZero #HongKong

The HKMA and Banque de France (BdF) have established a strong partnership to promote financial innovation. Recently, the two central banks successfully completed a Payment-versus-Payment (PvP) cross-border experiment, linking the HKMA’s Ensemble Sandbox and BdF’s DL3S. 📣 Don’t miss out on an engaging virtual Fireside Chat between Howard Lee, Deputy Chief Executive of the HKMA, and Denis Beau, First Deputy Governor of BdF, going live soon on this platform. They will delve into the opportunities and challenges surrounding the tokenisation of finance, a topic that is reshaping the future of the financial system. ⌚ Can’t wait that long? Check out the teaser first! #HKMA #BdF #ProjectEnsemble #DL3S #Tokenisation #CBDC