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Through the project , HKMA explores financial market infrastructure that facilitates seamless interbanksettlement of tokenised money through a wCBDC. Having completed building the sandbox, HKMA will use it to facilitate interbanksettlement using experimental tokenised money, focusing on transactions involving these tokenised assets.
As reported in August, the Fed had announced some additional details of the 24/7 year-round interbanksettlement service through a program that began to take shape in 2019, geared toward speeding processing times tied to instant payments (and featuring a clearing function). Looking Toward Interoperability And Scale .
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