Hong Kong and Thailand are studying the project to launch a digital currency in the next quarter
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Answer Hong Kong and Thailand are studying the project to launch a digital currency in the next quarter
The central banks of Hong Kong and Thailand are looking into the use of digital currency and plan to release a joint research report by the first quarter of 2020.
The Hong Kong Monetary Authority (HKMA) announced the news at a forum this week, according to Ma flower In a local newspaper (EG Insight).
and cooperated The Monetary Authority of Hong Kong and the Bank of Thailand (BoT) last May to study the benefits and risks of launching a central bank digital currency.
The Hong Kong Monetary Authority and the Bank of Thailand are separately researching local projects, while working together specifically on how to facilitate payment settlements between banks in Hong Kong and Thailand using cryptocurrencies.
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The Hong Kong Monetary Authority has cooperated with the Digital Currency Research Institute of the People’s Bank of China to study some other projects related to digital currencies.
Edmund Lau, Executive Director of the Hong Kong Monetary Authority, said that the central bank is focused on the institutionalization of digital currencies and does not see a need to issue them to individuals.
In other words, the Hong Kong Monetary Authority intends to use digital currencies as a system of payments between local banks, companies and securities.
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