The Hong Kong Monetary Authority (HKMA) announced today a partnership with Banco Central do Brasil (BCB) to conduct cross-border tokenisation experiments under Project Ensemble and Drex pilot programme.
The two institutions will link their experimental central bank digital currency (CBDC) infrastructures, namely the Ensemble Sandbox and the Drex pilot platform, to explore cross-border payment-versus-payment (PvP) and delivery-versus-payment (DvP) settlement use cases in areas such as trade finance and carbon credits.
Building on the Co-operation Agreement signed by the HKMA and the BCB in 2018 to foster innovation in financial services across their respective markets, the collaboration follows the announcements by both parties of their latest rounds of experimentations involving CBDCs and tokenised assets.
The…
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