Hong Kong Monetary Authority has unveiled the finalized Aurum retail central bank digital currency (CBDC) prototype. the central bank claimed that CBDCs can work with stablecoins and that CBDCs used by retail customers ensures flexibility and privacy. The system, created in collaboration with the Bank for International Settlements (BIS) Innovation Hub, has a special design that captures the peculiarities of the current money-issuing system in Hong Kong. A retail e-wallet and wholesale interbank system make up Aurum. The e-wallet has a smartphone application and is made at a nearby bank. The adoption of a validator mechanism stops users from redeeming The post Hong Kong Monetary Authority Claims CBDCs Can Work With Stablecoins appeared first on Cryptoknowmics-Crypto News and Media Platform.
