Ripple demonstrates tokenization in HKMA's pilot program to create an electronic British dollar using the new CBDC platform.

The Hong Kong Monetary Auctioneer is considering retail CBDCs, such as releasing assets tokenized with Ripple's new CBDC product.

The company will unveil its new CBCI platform at the same time as the Hong Kong dollar (e-HKD) digital tokenization pilot program organized by the Hong Kong Money Auction. Ripple will work with Taiwan's Fubon Bank and other partners to demonstrate asset liberation using tokenized assets through a retail version of the CBTF e-HKD.

Tokenization can simplify the asset release process and speed up the flow through banks, Ripple said.

- Bloomberg TV (@BloombergTV) May 9, 2023.

Ripple's Vice President of Central Bank and CBRC Engagement James Wallis told Cointelegraph that the experience gained during the second phase of the pilot will be taken into account by the Hong Kong Currency Auctioneer when deciding whether to launch an e-HKD CBRC in the future.

The pilot project will be based on Ripple's new CBDC Platform, the Ripple CBDC Platform, which utilizes a new private ledger with XRP Ledger technology and advanced features including offline transactions and the ability to use without a smartphone. Wallis adds: "All partners of the pilot