U.Today - Yet again Ripple is going to demonstrate opportunities of tokenization for central bank digital currencies (CBDCs), on-chain synthetics in real estate and decentralized lending/borrowing protocols.
Ripple teams up with Fubon Bank for e-HKD pilot program
According to the official announcement shared by Emi Yoshikawa, head of Web3 and crypto at Ripple, the company has entered into a long-term technical collaboration with Fubon Bank, a Taiwan-based fintech major.This integration is part of Hong Kong Monetary Authority's (HKMA) inaugural e-HKD pilot program, an experiment with the development and adoption of the blockchain-based version of the Hong Kong Dollar.
Namely, the two firms will work together on real estate asset tokenization and equity release with instruments based on the prototype of the Digital HKD.
Ripple is excited about the use cases of e-HKD and the role of XRP Ledger in its progress:
Ripple and Fubon Bank will co-develop various pilots, together with other industry players.
Ripple's CDBD track in spotlight: Releases, awards and collaborations
James Wallis, Ripple's vice president of central bank engagement and CBDCs, claims that development in the Asia-Pacific region remains the core focus for CBDC's workload of his company:As covered by U.Today previously, Ripple is among the most active blockchain companies in the sphere of CBDCs, its tech development, marketing and massive adoption.
Earlier this month, the company scored two major awards for its CBDC program.
Also, it released a one-stop platform for government-backed stablecoins that is already accessible in four countries.