Standard Chartered, BlackRock, And Mastercard Collaborate On Digital Hong Kong Dollar Pilot

According to Foresight News, Standard Chartered Hong Kong, BlackRock, and Mastercard are set to participate in the second phase of the Hong Kong Monetary Authority's (HKMA) 'Digital Hong Kong Dollar' pilot program. The newly formed alliance will explore tokenized investment applications using an end-to-end approach. This potential solution aims to enable investors to directly purchase and settle tokenized assets through digital Hong Kong dollars or tokenized deposits with asset managers. Standard Chartered's SC Ventures, along with Standard Chartered Hong Kong and BlackRock, will collaborate to provide the platform for this initiative. Mastercard's multi-token network will support the potential issuance of tokenized assets. The collaboration seeks to advance the use of tokenized assets and streamline the investment and settlement process for investors.