- Chainlink CCIP facilitates funds with CBDC and stablecoin
- Hong Kong checks integration of tokenized stablecoins
- Visa and Fidelity help blockchain CBDC pilot
The e-HKD+ pilot program, led by the Hong Kong Financial Authority (HKMA), has been investigating how tokenization may be utilized to funds infrastructure with a give attention to stability and regulatory compliance. One of many key checks includes interoperability between central financial institution digital currencies (CBDCs) and stablecoins, with technical help from Chainlink.
The Chainlink Cross-Chain Interoperability Protocol (CCIP) answer has been chosen as a substitute for securely join totally different blockchain networks. In line with an announcement from the corporate on X, CCIP is getting used to allow worldwide transactions at a decrease price, along with integrating automation by way of good contracts, real-time knowledge verifications and interoperability between totally different networks.
As main monetary establishments undertake digital belongings, the necessity for a money leg to settle onchain transactions has develop into more and more vital.
Uncover how Chainlink is enabling the safe alternate of a Hong Kong CBDC and an Australian greenback stablecoin ↓… pic.twitter.com/wJal384CSU
– Chainlink (@chainlink) June 9, 2025
Whereas the HKMA manages the issuance and reserves of the native CBDC, ANZ Financial institution was chargeable for the tokenized deposits, performing because the issuer. Three interoperability strategies had been evaluated throughout the growth of the pilot: time-locked and hash-based contracts (HTLC), minting and burning of tokens on separate networks with centralized management, and lastly, Chainlink’s answer, thought-about extra strong when it comes to safety and decentralization.
The involvement of establishments comparable to Visa and Fidelity reinforces company curiosity in integrating digital belongings into conventional monetary buildings. Though the mission nonetheless raises considerations amongst analysts about its impression on the monetary system, the participation of huge corporations alerts confidence within the applied sciences being examined.
Disclaimer: The views and opinions expressed by the writer, or anybody talked about on this article, are for informational functions solely and don’t represent monetary, funding or different recommendation. Investing or buying and selling cryptocurrencies carries a danger of monetary loss.
