Standard Chartered has entered cooperation with the monetary authorities of Hong Kong and Thailand for trials of the central bank digital currency.
Xie Wen (谢雯), deputy CEO of Standard Chartered Bank (China) said that the lender had recently entered cooperation with the Hong Kong Monetary Authority (HKMA) and the Bank of Thailand for trials of the use of the central bank digital currency (CBDC).
The trial involved the use of the CBDC for the completion of real-time electronic transfers and forex exchanges in Hong Kong.
Xie made the remarks at the Greater Bay Innovation Economy Summit (粤港澳大湾区创新经济高峰论坛) on 4 November.
According to Xie the CBDC cooperation with HKMA and the Bank of Thailand is one of a number of digital currency trials for which Standard Chartered is currently a participant.