Hong Kong Monetary Authority announces research results of the central bank's digital currency and will cooperate further with the Bank of Thailand

On January 22, the Hong Kong Monetary Authority (HKMA) and the Central Bank of Thailand announced the results of the Central Bank Digital Currency (CBC) joint research plan-the "Inthanon-LionRock Project" and published a research report. The Inthanon-LionRock project was completed in December 2019. The two sides have jointly developed a proof-of-concept prototype based on Distributed Ledger Technology (DLT) with a total of 10 participating banks from both places. The two sides agreed to conduct further joint research work in related areas, including exploring business Cases and connections with other platforms, which will involve trials of banks and other relevant institutions participating in cross-border fund transfers