Hong Kong’s de facto central bank is preparing for the possible issuance of the city’s own retail central bank digital currency (CBDC).

The Hong Kong Monetary Authority made the announcement on September 20, after looking into the prospect of issuing the e-HKD and securing support from market participants during two rounds of consultation. The HKMA first announced in June 2021 that it would study the technical and policy considerations relating to the launch of the e-HKD.

“As Hong Kong’s