Hong Kong and Thailand select ConsenSys as partner for CBDC development

The Ethereum studio ConsenSys has become a partner of the Hong Kong Monetary Authority (HKMA) and the Bank of Thailand in the second phase of their joint CBDC development project.

According to заявлению, ConsenSys is exploring the application of CBDC in the cross-border payments network.

The company noted that it is using a suite of corporate Ethereum solutions to test the scalability, security and interoperability of the digital coin.

In May 2019, the central banks of Hong Kong and Thailand signed a memorandum of understanding, launching the Inthanon-LionRock project to study the use of CBDCs in cross-border payments.

In the second phase of the initiative, ConsenSys will work jointly with PricewaterhouseCoopers Limited and Forms HK.

Earlier in 2018, the Bank of Thailand launched the Inthanon project aimed at creating a CBDC based on Corda technology.

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