Hong Kong government partners with Chainlink for CBDC study involving cross-border transactions

From Cointelegraph

June 09, 2025 2:43:00 pm:

The Hong Kong government partners with Chainlink’s CCIP to test cross-border transactions between permissioned and permissionless blockchains. Phase Two of Hong Kong’s CBDC initiative involves a hypothetical Australian investor purchasing a tokenized asset in Hong Kong using different digital assets. Visa, ANZ, ChinaAMC, and Fidelity International are key partners in this study.

Chainlink’s CCIP facilitates communication between different blockchains, including Ethereum and Solana-compatible ones. The study explores the interplay between permissioned and permissionless blockchains, with the HKMA commencing Phase Two of the CBDC program on Sept. 23, 2024. Interest in CBDCs may be cooling globally, with only 18% of central banks inclined to issue one, compared to 38% in 2022.

Despite the global trend, some countries like Israel and the EU continue to advance their CBDC plans. Israel released a preliminary design for a digital shekel, while the EU increased efforts for CBDC platform development in February. The Hong Kong study aims to explore use cases for a possible CBDC, with findings expected to be published by the end of 2025.

Read more at CoinTelegraph: Hong Kong to Use Chainlink’s CCIP for CBDC Study