.Ripple partners with Taiwan banking major Fubon Bank to accelerate CBDC development for $HKD Ripple emy_wng $XRP
This integration is part of Hong Kong Monetary Authority's inaugural e-HKD pilot program, an experiment with the development and adoption of the blockchain-based version of the Hong Kong Dollar.
Namely, the two firms will work together on real estate asset tokenization and equity release with instruments based on the prototype of the Digital HKD.With real world asset tokenization predicted to be a multi-trillion-dollar industry by 2030, tokenizing commodities such as real estate is gaining traction within the financial services and government sectors as a core use case.
James Wallis, Ripple's vice president of central bank engagement and CBDCs, claims that development in the Asia-Pacific region remains the core focus for CBDC's workload of his company: The Asia Pacific region has many forward-looking regulators such as the HKMA, who are looking to leverage the capabilities of blockchain technology. It’s a huge honor for Ripple to be one of the select few organizations participating in the HKMA’s e-HKD Pilot Programme.
As covered by U.Today previously, Ripple is among the most active blockchain companies in the sphere of CBDCs, its tech development, marketing and massive adoption.
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