Hong Kong’s central bank is pushing ahead with its digital currency and fintech infrastructure under the “Fintech 2025” strategy
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Hong Kong is setting its sights on the next phase of digital finance as the Hong Kong Monetary Authority (HKMA) advances its central bank digital currency (CBDC) agenda and strengthens data connectivity across the financial ecosystem. Eddie Yue, Chief Executive Officer (CEO), HKMA, shared these plans in his latest article, which also outlined the achievements they have made so far in their “Fintech 2025” strategy. Yue also discussed the future direction of the initiative, which aims to cement Hong Kong’s position as a global fintech leader. Enabling the digital economy with strong infrastructures Yue stated that “Financial infrastructure is like a highway, enabling capital and financial assets to travel safely and efficiently through our economy.” The CEO pointed out the need to build this financial infrastructure, stating, “For Hong Kong’s digital economy to thrive, not only do we need the above-mentioned ‘soft infrastructure,’ robust financial ‘hard infrastructure’ is equally crucial.” There’s no shortage of infrastructure currently, as Hong Kong runs the Real Time Gross Settlement (RTGS) system, which operates across four currencies. Also, its Faster Payment System (FPS), which was launched in 2018, has become a fixture of daily transactions. FPS is not limited to Hong Kong, as it has been connected with systems in Thailand and mainland China, creating a cross-border payment network that allows instant transfers between economies. While the leadership acknowledges the need to build a strong infrastructure, it is not an indictment of the current ones in Hong Kong but a call to action to build for the present and future, where digital finance is a main feature. The city has been working on building on the already established infrastructure, and one of these developments is the digital Hong Kong dollar, or e-HKD, which the HKMA has been exploring since 2017. The authority recently completed an…
Filed under: News - @ October 30, 2025 11:27 pm