Visa, in collaboration with HSBC and Hang Seng Bank, has completed phase 1 of its digital currency trial in Hong Kong. The trial involved tokenized deposits of the digital Hong Kong dollar (e-HKD) and achieved “near real-time” finality with transfers. Visa’s digital HK dollar test pilot was functional 24/7, surpassing the uptime of traditional financial systems. The next steps for Visa include exploring the use of e-HKD in tokenized asset markets and programmable finance. Despite the successful results, there are still issues to resolve before the full launch of the Hong Kong digital dollar.
