Visa and Chainlink complete CBDC and stablecoin swaps between Hong Kong and Australia.

Gate News bot news, Visa and Chainlink have achieved significant milestones in the e-HKD+ pilot program of the Hong Kong Monetary Authority (HKMA), successfully testing cross-border blockchain transactions using Central Bank Digital Currency (CBDC) and stablecoins.

This experiment was conducted in collaboration with Visa and ANZ (, ChinaAMC ), and Fidelity International (. It is one of the first cases in the real world to simulate programmable currency for cross-border investment in tokenized assets.

The test uses Chainlink's cross-chain interoperability protocol )CCIP( to connect the private blockchain DASChain of Australia and New Zealand Banking Group )ANZ( with the public test network of Ethereum )ETH(.

This enables Australian investors to exchange the Australian Dollar stablecoin )A$DC( for e-HKD, and use digital Hong Kong dollars to purchase tokenized money market funds provided by Hong Kong asset management companies )MMF(.

This process enables near-instant settlement, aiming to eliminate the delay risk associated with traditional cross-border transactions.

Source: CryptoSlate

LINK2.19%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 6
  • Share
Comment
0/400
Alchemiztvip
· 06-10 13:45
Ape In 🚀
Reply0
Alchemiztvip
· 06-10 13:45
Ape In 🚀
Reply0
Alchemiztvip
· 06-10 13:45
Ape In 🚀
Reply0
Alchemiztvip
· 06-10 13:45
Ape In 🚀
Reply0
Alchemiztvip
· 06-10 13:45
Ape In 🚀
Reply0
Mr.Evip
· 06-10 02:00
Hurry up and enter a position!🚗
View OriginalReply0
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)