Hong Kong Launches New Initiative for Banks on DLT

Hong Kong Launches New Initiative for Banks on DLT

user avatar

by Giorgi Kostiuk

2 years 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.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

CZ Calls Out Elon Musk Amid Binance Hack

Changpeng Zhao, co-founder of Binance, publicly addressed Elon Musk after his mocking response to a significant hack affecting the exchange.

user avatarMaria Fernandez

RUNE Price Surges Amid Ongoing Investigations into Stolen Cryptocurrency

RUNE's price increased from a local low of 0.59 to approximately 0.67 as investigations into stolen cryptocurrency movements through decentralized platforms, including THORChain, intensified.

user avatarGustavo Mendoza

Trezor Issues Urgent Security Warning for Safe 5 Wallets

Trezor has issued a security warning to customers who purchased Safe 5 hardware wallets through the Southeast Asian reseller CryptoBilis since March 2026, advising them to transfer their cryptocurrency to a newly generated wallet due to a potential hidden cellular implant.

user avatarRajesh Kumar

MEXC Introduces Canton 0Fee Carnival for Traders

MEXC has launched the Canton 0Fee Carnival, enabling users to trade CC spot and futures pairs without fees from October 30 to November 30, 2026, and participate in a prize pool of 1 million.

user avatarMiguel Rodriguez

XRP Ledger Foundation Clarifies Proposal's Routine Nature

The XRP Ledger Foundation clarifies that proposed changes to the token approval process are routine improvements and unrelated to any security incidents.

user avatarLuis Flores

XRP Ledger Developers Propose Tighter Token Approval Controls

XRP Ledger developers propose amendments for stricter token approval controls to enhance protocol safeguards and ensure consistent application of approval requirements.

user avatarArif Mukhtar

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.