Microsoft and Ant Digital will participate in the Hong Kong Monetary Authority’s digital currency project

BlockBeats news, on March 8, according to the South China Morning Post, the Hong Kong Monetary Authority (HKMA) announced the launch of a wholesale central bank digital currency (wCBDC) pilot project. This is the world’s first pilot project for tokenized deposits and tokenized assets. and central bank digital currency settlement platform. It will also form an "architectural community" to develop common standards. According to people familiar with the matter, companies such as Microsoft and Ant Digital will join the community. Public information shows that Ant Digital will launch the Web3 technology brand ZAN for Hong Kong and overseas markets in 2023 to provide Web3 technical services to compliance agencies. Its products can help developers reduce development costs and technical risks.