The Hong Kong Monetary Authority (HKMA), the Bank of Israel (BOI), and the Bank for International Settlements Innovation Hub (BISIH) Hong Kong Centre have jointly published a report titled “Project Sela – An accessible and secure retail CBDC ecosystem.” The project demonstrates the technical feasibility of a retail central bank digital currency (CBDC) architecture that enables non-bank payment intermediaries to connect directly to the CBDC ledger. This promotes competition and innovation in digital payments while ensuring cybersecurity, privacy, and legal and policy requirements. The insights from Project Sela will inform the HKMA’s exploration of introducing an e-HKD in Hong Kong and benefit other central banks evaluating retail CBDC architectures.
Report:
https://www.hkma.gov.hk/media/eng/doc/key-information/press-release/2023/20230912e3a1.pdf
Resource:
https://www.hkma.gov.hk/eng/news-and-media/press-releases/2023/09/20230912-3/