Make investments Hong Kong (InvestHK) and the Hong Kong Financial Authority (HKMA) collectively introduced the addition of the Central Financial institution Digital Forex (CBDC) monitor to the International Quick Observe 2022, giving native and world companies priceless alternatives to companion with the central banking establishment to spice up the expansion and adoption of fintech in Asia and past.
The International Quick Observe is organised by InvestHK and co-organised by Finnovasia.
It’s a one-stop programme with a enterprise matching portal, pitching competitors, and mentoring periods which join world fintech corporations with a various vary of Asian Company, Investor and Service Champions to discover potential enterprise partnerships and investments.
The CBDC monitor invitations banks, fintechs and tech companies to submit revolutionary options in eight focus areas, together with retail CBDC (rCBDC) adoption, wholesale CBDC (wCBDC) adoption, programmable cash, interoperability, privateness, cybersecurity, overseas alternate and liquidity administration, and offline funds.
Shortlisted candidates will then enter a pitching session unique for the monitor and compete for 3 awards, specifically the Finest Use Case Award, Finest Know-how Award and Finest Ecosystem Award.
All certified candidates can also have the alternatives to work with the HKMA on analysis initiatives and pilots to foster the long run progress of the CBDC ecosystem.
Lately, Hong Kong has been main in worldwide collaborations and analysis on CBDC, with its work on wCBDC properly recognised by the market and ranked as one of the vital mature of its sort on the planet.
The HKMA has been actively guiding the exploration of each wCBDC and rCBDC.
The launch of the CBDC monitor reveals that the HKMA is dedicated to facilitating the sector’s progress, selling trade engagement, and leveraging new applied sciences to reinforce the monetary system.
Nelson Chow
“CBDC exploration has been excessive on the agenda of central banks world wide and has gained affordable traction in recent times. As Hong Kong’s central banking establishment, we endeavour to future-proof Hong Kong when it comes to CBDC readiness on each wholesale and retail fronts as a part of our ‘Fintech 2025’ technique.
This yr, we’re thrilled to companion with InvestHK and introduce a brand new CBDC monitor to the International Quick Observe. We’re assured that this new CBDC monitor will yield fruitful outcomes and produce priceless insights, including to the wealth of information on CBDC and contributing to an enhanced CBDC ecosystem,”
mentioned Nelson Chow, Chief Fintech Officer of the HKMA.
Charles Ng
“We’re actually honoured and excited to be working with the HKMA to launch the CBDC monitor. By connecting personal sector leaders instantly with the regulator, the monitor additional allows International Quick Observe 2022 to offer complete, one-stop assist to innovators world wide, whereas strengthening Hong Kong’s standing as a premier worldwide fintech hub.
Following final yr’s success, we imagine the enriched programme will additional facilitate fintech growth within the metropolis and past,”
mentioned Charles Ng, Affiliate Director-Normal of Funding Promotion of InvestHK.
In the meantime, InvestHK has unveiled the total checklist of Company, Investor, and Service Champions for this yr’s International Quick Observe.
As well as, a variety of thrilling partnering programmes, together with the Visa Fintech Quick Observe and incubator programmes run by Cyberport and Hong Kong Science and Know-how Parks Company, have additionally been introduced.
Utility for the CBDC monitor is now open till 16 September. To study extra concerning the CBDC monitor and the newest programme updates, go to the International Quick Observe 2022 web site.
