Hong Kong tests Chainlink CCIP for CBDC transactions
The Hong Kong Monetary Authority (HKMA) relies on Chainlink technology to enable real-time payments between digital central bank currencies (CBDCs) and stable coins. Participants in the project are Visa, Fidelity and the Australia and New Zealand Banking Group (Anz).
As part of the second phase of its e-HKD+pilot program, the Hong Congrati Central Bank has announced that it will work with Chainlink. The Cross-Chain Interoperability Protocol (CCIP) from Chainlink is used to test the interoperability between CBDCs and stable coins across various blockchains. The focus is on an application in which a tokenized version of the Hong Kong Central Bank currency (E-HKD) is exchanged for an Australian stable coin (A $ DC) in real time, as from official sources emerges.
Processing via different blockchains
The pilot project demonstrates how to handle transactions between private and public networks with the help of Chainlink CCIP-in this case between ANFS Permissioned Blockchain (Daschain) and Ethereum (Sepolia test network). Payments are made atomic, i.e. simultaneously on both sides, which excludes counter -party risks. For example, digital assets such as a money market fund with a stable coin should be acquired in real time-fully automated and without a settlement delay.
Participants of the pilot project include Visa, Anz, Chinaamc and Fidelity International, each of which regulatory application scenarios test. These range from digital investments to programmable payments – including compliance, identity examination and data protection.
Token as a global growth driver
The project underlines the growing importance of the tokenization of real assets (Rwas) for global payment transactions. According to Visa, tokenized stable coins and CBDCs U were a market volume of several trillions of USD by 2030. Chainlink CCIP is considered one of the leading solutions for cross-chain communication, already actively on over 50 blockchains with a secure volume of over 21 trillion.
The participation of established financial actors such as Visa and Fidelity underlines the regulatory claim of the project: It is not just about technological feasibility, but also about legally safe applicability in international markets. Hong Kong thus proves his role as a bridge head between East and West by combining regulatory innovation with the latest blockchain infrastructure.
