The Hong Kong Monetary Authority (HKMA) has released its Phase 2 report on the e-HKD Pilot Programme, highlighting a major development in cross-chain settlement using Chainlink's infrastructure.
Conducted with ANZ, China Asset Management Company (China AMC), and Fidelity International, the pilot tested how tokenized assets could be securely settled across multiple blockchains using Chainlink's Cross-Chain Interoperability Protocol (CCIP) and Automated Compliance Engine (ACE).
The findings demonstrated that Australia-based investors could acquire tokenized money market fund units from Hong Kong asset managers using e-HKD and tokenized deposits, enabling efficient and programmable transactions.
Chainlink's solution addressed three key institutional challenges: data integrity, cross-chain connectivity, and compliance. CCIP facilitated seamless movement of value and data between chains, while ACE automated compliance by validating on-chain identity proofs against jurisdictional policies.
HKMA Chief Executive Eddie Yue emphasized that the pilot outcomes will guide Hong Kong's ongoing work on central bank digital currencies and tokenization, noting expanding institutional adoption.
Looking ahead, the HKMA plans to prioritize wholesale e-HKD applications, such as cross-border settlements and trade financing, and aims to establish policy, legal, and technical frameworks by 2026, including common token standards to enhance programmability and compatibility.
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