Hong Kong tests e-HKD on Arbitrum, Ethereum, Linea and Polygon blockchains

As part of the second stage of the pilot projecte-HKD+, the Hong Kong government and the region’s Monetary Authority (HKMA) together with HSBC Bank completed large-scale testing of the digital Hong Kong dollar (CBDC) on four popular blockchains: Arbitrum (ARB), Ethereum (ETH), Linea (LINEA) and Polygon (POL). This is an important step towards the digitalization of the region’s financial system and the creation of a flexible, technological infrastructure for payments and deposits.

The e-HKD+ project aims to explore the technical and commercial feasibility of using central bank digital currency in a real-life financial environment. HSBC Bank became one of the first participants in the initiative and for the first time in Hong Kong offered corporate clientstokenized depositservice. Full results of studies and tests are planned to be published before the end of 2025.

Which blockchains are involved in the e-HKD+ project

The choice of platforms turned out to be symbolic: Ethereum is a recognized leader in the world of smart contracts and DeFi; Arbitrum – Layer 2 solution that provides scalability; Polygon – fast and cost-effective network with a wide ecosystem; andLinea, built on zk-rollups technology, offers advanced privacy and efficiency. I believethat this is a deliberate step demonstrating Hong Kong’s desire to rely on already proven solutions, but at the same time test the most advanced technologies.

HSBC launches tokenized deposits amid digitalization

Simultaneously with the CBDC tests, Bank HSBC introduced the first tokenized deposit service in Hong Kong for business. This step could change the approach to corporate settlements and increase the transparency of financial transactions. According to bank representatives, tokenization will simplify liquidity management and reduce costs.

It is interesting that such an initiative is not implemented on a single platform, but using a multi-blockchain infrastructure, which emphasizes the flexibility and technological openness of the e-HKD+ approach.

Briefly on the topic:

• Hong Kong tests e-HKD on Ethereum (ETH), Arbitrum (ARB), Linea (LINEA) and Polygon (POL).
  
• HSBC has completed pilot tests and launched tokenized deposits for corporate clients.
  
• Research results will be published at the end of 2025.
  
• Hong Kong’s CBDC model relies on multi-blockchain and flexible infrastructure.

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