Hong Kong Begins Trial of Digital Currency

(Bloomberg) — Hong Kong began testing a digital version of its currency, joining other jurisdictions exploring the space including mainland China.

Among 16 enterprises that joined a pilot program for the electronic Hong Kong Dollar (e-HKD) are HSBC Holdings Plc, the local unit of Bank of China Ltd., e-payment provider Alipay and Visa Inc., the Hong Kong Monetary Authority said Thursday in a statement. The trial will explore the e-HKD’s potential use in six areas including offline payments.