China's future carbon credits will be a new trade currency settlement system, breaking the U.S. dollar's oil hegemony.

The Hong Kong Monetary Authority collaborates with the central banks of Thailand and Brazil to launch a cross-border tokenization pilot.

The Hong Kong Monetary Authority has partnered with the central banks of Thailand and Brazil to explore cross-border tokenization projects, aiming to develop use cases in trade finance and carbon credits. According to the agreement with the Bank of Thailand, the Hong Kong Monetary Authority will connect its Ensemble Sandbox with the Bank of Thailand's Project San to test payment versus payment and delivery versus payment settlements. Meanwhile, the collaboration with the Central Bank of Brazil will connect Ensemble Sandbo.