The Hong Kong government has teamed up with Chainlink's Cross-Chain Interoperability Protocol (CCIP) to experiment with cross-border transactions between permissioned and permissionless blockchains, along with settlements involving various digital assets. This collaboration is part of Phase Two of Hong Kong's central bank digital currency (CBDC) project. The initiative, as outlined in a report by Visa, will feature a hypothetical Australian investor buying a tokenized asset in Hong Kong using a stablecoin pegged to Australia's currency. The transaction will traverse multiple blockchains before the asset is securely stored in the investor's wallet in Hong Kong's CBDC. Chainlink's CCIP facilitates communication between diverse blockchains, including Ethereum and Solana-compatible networks. The study involves key partners like Visa, ANZ, ChinaAMC, and Fidelity International, exploring the interplay between permissioned and permissionless blockchains. The Hong Kong Monetary Authority initiated Phase Two of the CBDC program in September 2024, with findings expected by the end of 2025. Read more AI-generated news on: https://app.chaingpt.org/news

#CBDC #ETH