CBDC | Crypto

Visa and Chainlink have completed a key milestone in the Hong Kong Monetary Authority’s (HKMA) e-HKD+ Pilot Programme, successfully testing a cross-border blockchain transaction using central bank digital currency (CBDC) and stablecoins. The trial, conducted in partnership with ANZ, ChinaAMC, and Fidelity International, is one of the first real-world simulations of programmable money being used […] The post Visa, Chainlink successfully complete CBDC, stablecoin swap between Hong Kong, Australia appeared first on CryptoSlate.

The study involving Chainlink's Cross-Chain Interoperability Protocol is one of many initiatives exploring use cases for a potential Hong Kong CBDC, or e-HKD. The Hong Kong government is partnering with Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to test cross-border transactions between permissioned and permissionless blockchains, as well as settlements using different types of digital assets. The partnership is part of Phase Two of Hong Kong’s central bank digital currency (CBDC) initiative. According to a report from payments company Visa, the initiative will involve a hypothetical Australian investor who wishes to purchase a tokenized asset in Hong Kong. After requesting the purchase in a stablecoin pegged to Australia’s currency, the transaction will be routed via interactions across multiple blockchains. Finally, the purchased asset finds its way into the investor’s wallet, denominated in Hong Kong’s CBDC. Chainlink’s CCIP plays a role in the communication between different blockchains. Acc...

Brazil’s Central Bank plans to treat transaction data from its central bank digital currency (CBDC) infrastructure, called Drex, as a direct input for setting the country’s interest rate benchmark. Central bank executive Henrique Videira said on June 4 at the Token Nation conference in São Paulo that every payment and asset transfer recorded on Drex’s […] The post Brazil’s central bank plans to use CBDC data to guide interest rate decisions appeared first on CryptoSlate.