The Banque de France (BDF) and the Hong Kong Monetary Authority (HKMA) have partnered on wholesale central bank digital currency (wCBDC) initiatives.

This collaboration includes HKMA’s participation in Wave 2 of the European Central Bank’s Eurosystem exploratory work.

A Memorandum of Understanding (MoU) was signed to innovate in the wCBDC and tokenisation markets, focusing on interoperability between BDF’s DL3S and HKMA’s Ensemble Sandbox infrastructures.

The partnership aims to enhance real-time cross-border and cross-currency payments, improving settlement efficiency.

Denis Beau of BDF and Howard Lee of HKMA emphasised the initiative’s potential to promote financial inclusion.

This collaboration marks a significant step in advancing the global tokenisation market.