Visa, along with two local Hong Kong banks, HSBC and Hang Seng, has completed a pilot program for digital Hong Kong dollars at Cyberport, and will further explore use cases for tokenized deposits.

On November 1st, BlockBeats reported that VISA officially announced the pilot results of the joint research with HSBC and Hang Seng Bank on tokenized deposits using central bank digital currency. The test simulated two use cases focusing on interbank enterprise-to-enterprise (B2B) payment processes, including property payments and settlements between collection agencies and merchants. It demonstrated the potential advantages of B2B payment tokenization, including payment speed, settlement risk control, payment network resilience, and transaction transparency. Visa has partnered with the two leading banks in Hong Kong and was selected for the "Digital Hong Kong Dollar" pilot program held by the Hong Kong Monetary Authority (HKMA) in May this year. Visa has stated that it will continue to explore more feasible use cases for tokenized deposits, with a focus on asset market tokenization, programmable finance, extended retail solutions, and cross-border payments.