According to PANews, Huaxia Fund (Hong Kong), Visa, Australia and New Zealand Banking Group, and Fidelity International jointly released the mid-term report for the second phase of the Hong Kong Monetary Authority (HKMA) Digital Hong Kong Dollar+ (e-HKD+) pilot program. The report is titled (Transforming Global Payments: The Role of Tokenized Currency and Funds in Cross-Border Transactions). The second phase explores tokenized asset settlement, programmability, and offline payments. Sandbox participants test Australian investors using the digital Hong Kong Dollar to purchase tokenized fund units. The transactions are designed to be nearly real-time synchronized to test the reduction of settlement-related counterparty risk. The next phase will initiate end-to-end transaction testing to study how tokenization technology can reduce settlement risk. The tests are expected to provide important insights for the industry on interoperability standards, token standards, and blockchain technology.