Ripple teams up with the Hong Kong Monetary Authority.
Ripple will participate in the Hong Kong Monetary Authority’s digital Hong Kong dollar central bank digital currency pilot program by showcasing a real estate asset tokenization solution. The company will reveal its new CBDC platform at the same time.
Ripple will partner with Taiwan’s Fubon Bank and others to demonstrate equity release with tokenized assets using a retail version of the e-HKD CBDC. Equity release, also known as a reverse mortgage, is the practice of a lender letting a homeowner access the equity in their home, with payment coming due only when the house is sold or the borrower dies.
Tokenization can reduce friction in the equity release process and speed throughput for banks, Ripple said in a statement.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Even Licensed Firms Say Opening Bank Accounts Is Hard in Hong KongA recent meeting of banks and crypto firms organized by HKMA was described by one attendee as a “wish list from the regulator.” lavender_au reports.
Read more »
Hong Kong political cartoon axed after government pressure, cartoonist saysWong Kei-kwan, one of Hong Kong's most prominent political cartoonists and whose newspaper cartoon strip was axed after four decades, defended freedom of expression in the face of political pressures while urging others to keep speaking out
Read more »
China state-owned Greenland to apply for Hong Kong virtual asset trading licenseChinese state-owned Greenland Financial Technology Group is applying for a virtual asset trading license in Hong Kong, according to a report.
Read more »
Nine books that have been taken off library shelves in Hong KongAhead of the June 4, 1989 Tiananmen Square protests and massacre, authorities in Hong Kong are removing books that China deems sensitive from library shelves.
Read more »
Ripple Starts Platform for Central Banks to Issue Their CBDCs.Ripple launched its CBDC platform which would allow central banks to issue and customize their own digital currency. By lavender_au.
Read more »
Ripple CEO says more crypto firms may leave U.S. due to 'confusing' rulesMore crypto firms may leave the U.S. for more progressive jurisdictions like Europe if regulators continue to crack down on them, said Ripple CEO.
Read more »