Ethereum workshop ConsenSys said it has been chosen by the Hong Kong Monetary Authority (HKMA) to assist in Hong Kong and Thailand's cross-border central bank digital currency (CBDC) pilot.
- ConsenSys said in a Friday announcement it will "work on the second implementation stage" of those countries' Project Inthanon-LionRock CBDC alongside consultancy PricewaterhouseCoopers and Forms, a Hong Kong fintech.
- A joint effort by HKMA and the Bank of Thailand, Project Inthanon-LionRock is examining if, where and how distributed ledger technology (DLT) might enhance cross-border payments between commercial banks.
- HKMA did not immediately confirm the partnership. Further details were not available by press time.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.