The Hong Kong Monetary Authority (HKMA) has released its Phase 2 e-HKD pilot report, highlighting a major milestone in cross-border settlement using tokenized assets and digital currencies.
The initiative, powered by Chainlink’s Cross-Chain Interoperability Protocol (CCIP), was developed in collaboration with ANZ, Fidelity International, China AMC, and Visa.
The pilot explored how Australia-based investors could acquire tokenized money market fund units from Hong Kong-based managers using e-HKD and tokenized deposits, bridging the gap between digital currencies and regulated assets.
The Hong Kong Monetary Authority (HKMA) released a report on Phase 2 of its e-HKD program, publishing the results of multiple industry initiatives, including a key cross-chain settlement solution powered by Chainlink with ANZ, China AMC, and Fidelity International.… pic.twitter.com/uMGYsjW8TB
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Through the integration of Chainlink CCIP and the Automated Compliance Engine (ACE), the pilot demonstrated secure, real-time cross-chain settlement and automated compliance enforcement, addressing three core institutional challenges:
- Trusted data: Ensuring accurate, tamper-proof asset pricing and transaction data.
- Cross-chain connectivity: Allowing seamless movement of assets and data between blockchains.
- Automated compliance: Enabling on-chain identity verification and policy alignment across jurisdictions.
Participating institutions each played key roles:
- ANZ issued tokenized money market fund units and supported real-time settlement.
- Fidelity International integrated Chainlink CCIP for delivery-versus-payment (DvP) transactions.
- Visa contributed its Tokenized Asset Platform (VTAP) to handle tokenized deposits and digital settlements.
By uniting these technologies, the HKMA’s pilot provides a blueprint for regulated, interoperable tokenized finance, demonstrating how e-HKD and blockchain infrastructure can modernize cross-border payments and digital asset settlement in Asia’s financial hub.
