Hong Kong Starts Pilot of e-HKD with 16 Companies
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Hong Kong has started the pilot of its digital version of the Hong Kong dollar, dubbed the e-HKD, The South China Morning Post reports.

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The trial is being supported by 16 banks (including HSBC, Standard Chartered Bank and Bank of China), which will test the digital currency with select groups of clients.

According to the report, the banks will test six uses for the e-HKD such as online payments, collecting government payouts, tokenized deposits (in collaboration with Visa) and others. The results of the pilot are said to be announced in November.

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Meanwhile, Greenland Financial Technology Group, a wholly owned subsidiary of China's state property giant Greenland Holdings, is planning to apply for a license to open a crypto business in Hong Kong.

James Geng Jing, the head of the financial arm, said the company wants to "further diversify" its business and expand international footprint with the help of crypto.

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