{"id":49947,"date":"2023-05-18T08:15:55","date_gmt":"2023-05-18T12:15:55","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=49947"},"modified":"2023-05-19T03:18:47","modified_gmt":"2023-05-19T07:18:47","slug":"ripple-to-showcase-tokenization-solution-at-hkma-e-hkd-pilot-program","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/ripple-to-showcase-tokenization-solution-at-hkma-e-hkd-pilot-program\/","title":{"rendered":"Ripple to Showcase Tokenization Solution at HKMA e-HKD Pilot Program"},"content":{"rendered":"\n

Ripple is set to demonstrate and showcase a real estate asset tokenization solution at the Hong Kong Monetary Authority's (HKMA's) digital Hong Kong dollar<\/a> (e-HKD) central bank digital currency (CBDC) pilot program. <\/p>\n\n\n\n

\"Ripple
Ripple to Showcase Tokenization Solution at HKMA e-HKD Pilot Program<\/figcaption><\/figure>\n\n\n\n

Ripple will collaborate with Fubon Bank of Taiwan and others to demonstrate equity release with tokenized assets using the retail variant of the e-HKD CBDC. <\/p>\n\n\n\n

Equity release, also known as a reverse mortgage, is the practice of a lender granting a homeowner access to the equity in their property, with repayment due only upon the sale of the home or the borrower's death.<\/p>\n\n\n\n

According to a statement from Ripple, tokenization <\/a>can reduce friction in the equity release process and accelerate throughput for institutions. <\/p>\n\n\n\n

According to the HKMA, the company is participating in the program's so-called second rail, which “will take deep dives into use cases as well as application, implementation, and design issues relating to e-HKD.”<\/p>\n\n\n\n

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"Our regulation will be tight"

Hong Kong Monetary Authority Chief Executive Eddie Yue explains what crypto companies should expect under a new licensing regime https:\/\/t.co\/C6nWnRKtsU\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> pic.twitter.com\/hgpJr2mkjY<\/use><\/svg><\/span><\/a><\/p>— Bloomberg TV (@BloombergTV) May 9, 2023<\/use><\/svg><\/span><\/a><\/blockquote>

James Wallis, vice president of central bank engagements and CBDCs at Ripple, said in a Q&A, “Experiences emerging from the Rail 2 pilots will factor into any decisions by HKMA to launch an e-HKD later (Rail 3).”<\/p>\n\n\n\n

The pilot project<\/a> will utilize the Ripple CBDC Platform, a new private ledger with XRP Ledger technology and enhanced functionality, including offline transactions and non-smartphone use. Wallis added:<\/p>\n\n\n\n

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\u201cAll the pilot program partnerships that Ripple previously announced, including Montenegro, Palau and Bhutan, will leverage the CBDC Platform.\u201d<\/em><\/p>\n<\/blockquote>\n\n\n\n

Hong Kong's CBDC research began in 2017. In a recent paper, the HKMA <\/use><\/svg><\/span><\/a>concluded, “While it appears that e-HKD may not have an immediate role to play in the current retail payment market, we believe that potential use cases for e-HKD can emerge rapidly.”<\/p>\n","protected":false},"excerpt":{"rendered":"

Ripple is set to demonstrate and showcase a real estate asset tokenization solution at the Hong Kong Monetary Authority’s (HKMA’s) digital Hong Kong dollar (e-HKD) central bank digital currency (CBDC) pilot program. Ripple will collaborate with Fubon Bank of Taiwan and others to demonstrate equity release with tokenized assets using the retail variant of the […]<\/p>\n","protected":false},"author":12,"featured_media":4936,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21,24],"tags":[773,4862,4861,1242,142,14513],"class_list":["post-49947","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-ripples-news","tag-cbdc","tag-e-hkd","tag-hkma","tag-real-estate","tag-ripple","tag-tokenization"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/07\/What-you-should-know-about-Ripple-A-beginners-guide.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/49947","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=49947"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/49947\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/4936"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=49947"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=49947"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=49947"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}