• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M
Hong Kong Launches New Initiative for Banks on DLT

Hong Kong Launches New Initiative for Banks on DLT

user avatar

by Giorgi Kostiuk

6 months ago


The Hong Kong central bank is launching an initiative to assist banks in integrating distributed ledger technology (DLT) into their operations.

Central Bank Initiative

On January 8, the Hong Kong central bank announced the launch of the 'Supervisory Incubator for Distributed Ledger Technology.' This initiative aims to support banks in safely implementing DLT in their operations to maximize its benefits.

As the banking industry continues to evolve, it is essential that we provide a supportive environment for innovation to thrive.Arthur Yuen, deputy chief executive of HKMA

Program Highlights

The initiative includes individual bank support with access to a dedicated team from the central bank for feedback on live trials, focusing initially on tokenized deposits. It will also promote industry-wide development by sharing best practices, providing supervisory guidance, and conducting research.

Future of Distributed Ledgers

As distributed ledgers continue to evolve, more sophisticated methods of managing tokenized assets are expected. Tokenizing real-world data allows innovative financial products with smart contracts.

This will ultimately enable new forms of transactions that are not feasible with traditional financial infrastructure.Carmen Chu, HKMA Executive Director

The Hong Kong central bank's initiative aims to create favorable conditions for the implementation of advanced technologies in banking, potentially leading to new financial products and services.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

Other news

Trump Threatens Tariffs on Russia, Bitcoin Drops in Price

chest

Bitcoin drops below $120,000 following Trump's tariff threats on Russia. Geopolitical events impact crypto markets.

user avatarGiorgi Kostiuk

James Wynn Opens New Positions in Bitcoin and Memecoins

chest

After significant liquidations, James Wynn is once again investing in Bitcoin and memecoins with large sums.

user avatarGiorgi Kostiuk

Ruvi AI: A New Player in the Crypto Market with 13,900% Growth Potential

chest

Ruvi AI offers unique blockchain and AI-based solutions that may surpass Dogecoin in growth.

user avatarGiorgi Kostiuk

Roman Storm's Trial: Accusations of Links to Hackers and Money Laundering

chest

Roman Storm, co-founder of Tornado Cash, is on trial for money laundering involving North Korean hackers.

user avatarGiorgi Kostiuk

Satoshi-era Whale Transfers $4.6 Billion in Bitcoin

chest

A Bitcoin whale has transferred over $4.6 billion worth of Bitcoin after 14 years of dormancy, attracting market attention and analysts.

user avatarGiorgi Kostiuk

Fidelity Invests in Metaplanet: Details Revealed

chest

Fidelity has become the largest shareholder of the Japanese company Metaplanet, owning 12.9% of shares, highlighting the growing interest in crypto assets.

user avatarGiorgi Kostiuk
dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.