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 The Hong Kong Monetary Authority, the de facto central bank, said the second phase of the pilot will focus on exploring new use cases and delving into select cases from the previous phase. The second phase of the e-HKD pilot is expected to last until mid-2025.
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 This development reflects the HKMA's commitment to fostering government-industry collaboration in exploring central bank digital currencies (CBDCs) and maximizing readiness for a potential e-HKD. The outcomes and insights gained from Phase 1 of the e-HKD Pilot Programme will help enrich the HKMA's perspective and refine its approach to the possible implementation of e-HKD.