Banque de France and Hong Kong Monetary Authority announce collaboration on wCBDC

The Banque de France (BDF), the French central bank, and the Hong Kong Monetary Authority (HKMA) announced a collaboration on wholesale central bank digital currencies (wCBDCs). The collaboration includes the HKMA’s participation in the second wave of the European Central Bank’s Eurosystem exploratory work. The two institutions signed a Memorandum of Understanding (MoU) to innovate in the wCBDC and tokenization markets, focusing on the interoperability between the two institutions’ infrastructures, BDF’s DL3S and the HKMA’s Ensemble Sandbox. The collaboration aims to enhance real-time cross-border and cross-currency payments, optimize settlement efficiency, and promote interoperability between financial market infrastructures. BDF First Deputy Governor Denis Beau and HKMA Deputy Governor Howard Lee highlighted the potential of the initiative to promote financial inclusion and drive the development of the global token market. (Bitcoin.com)