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6/24, 6:51 AM (Source: TeleTrader)
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HKMA, PBoC to study digital currency application - Lam

The Hong Kong Monetary Authority (HKMA) is working with the People's Bank of China (PBoC) in order to study the application of digital currencies, Hong Kong Chief Executive Carrie Lam (pictured) stated on Thursday.

Lam addressed the media at a press conference, explaining that the HKMA and the PBoC look to assess the digital currencies' potential to "improve cross-border payments."

The PBoC has, so far, announced numerous pilot projects related to its central bank digital currency (CBDC), while it allegedly intends to roll it out at the Winter Olympics in 2022.

Breaking the News / BU