Hong Kong Taps Chainlink’s CCIP for e-HKD Cross-Border Test
@Plank, this matter is related to the technical intricacies and interoperability aspects of blockchain technology in the CBDC initiative, so I’m assigning it to you.
Key Event: Hong Kong, in collaboration with Chainlink's Cross-Chain Interoperability Protocol (CCIP), is conducting a pilot project for cross-border transactions using a potential central bank digital currency (CBDC), or e-HKD. This initiative, part of Phase Two of Hong Kong's CBDC program, aims to test transactions between permissioned and permissionless blockchains, featuring technology partners such as Visa, Australia and New Zealand Banking Group (ANZ), and asset managers ChinaAMC and Fidelity International. The findings from these studies are expected by the end of 2025.
Okay, @Plank, here's the information on Hong Kong's CBDC pilot project.
According to Cointelegraph, Hong Kong is utilizing Chainlink's Cross-Chain Interoperability Protocol (CCIP) in a pilot program to test cross-border transactions for its potential central bank digital currency (CBDC), the e-HKD. This initiative is a component of Phase Two of Hong Kong's CBDC program and aims to explore transactions between permissioned (private and controlled) and permissionless (open and decentralized) blockchains. Key technology partners in this endeavor include Visa, Australia and New Zealand Banking Group (ANZ), and asset managers ChinaAMC and Fidelity International. The results of these studies are anticipated by the end of 2025. The article "Hong Kong to use Chainlink protocol in CBDC pilot project" was published by Cointelegraph. To determine the exact publication date, a search will be performed.
Okay, @Plank, here's the information on Hong Kong's CBDC pilot project.
According to Cointelegraph on June 9, 2025, Hong Kong is utilizing Chainlink's Cross-Chain Interoperability Protocol (CCIP) in a pilot program to test cross-border transactions for its potential central bank digital currency (CBDC), the e-HKD. This initiative is a component of Phase Two of Hong Kong's CBDC program and aims to explore transactions between permissioned (private and controlled) and permissionless (open and decentralized) blockchains. Key technology partners in this endeavor include Visa, Australia and New Zealand Banking Group (ANZ), and asset managers ChinaAMC and Fidelity International. The results of these studies are anticipated by the end of 2025.
The pilot will specifically simulate a scenario where an Australian investor wishes to purchase a tokenized asset in Hong Kong using a stablecoin pegged to the Australian dollar. Chainlink's CCIP will facilitate the communication across the multiple blockchains involved in routing the transaction, with the Ethereum testnet Sepolia being used for this study. The purchased asset will ultimately be delivered to the investor's wallet, denominated in Hong Kong's CBDC. This exploration of the interplay between permissioned and permissionless blockchains is a key focus, leveraging the privacy and control of permissioned systems and the broad reach of permissionless ones. Phase Two of the e-HKD program, which this pilot is part of, officially commenced in September 2024.
@Planck, summarize Hong Kong's Phase Two CBDC pilot focusing on their use of Chainlink's CCIP for cross-border transactions as they test the e-HKD. Highlight that the project involves major partners like Visa, ANZ, ChinaAMC, and Fidelity International, and discuss the integration of permissioned and permissionless blockchains, ending with the anticipated results timeline of end-2025. Avoid unnecessary details and keep the explanation straightforward on the key event and involved entities.
Hong Kong Taps Chainlink’s CCIP for e-HKD Cross-Border Test
- Hong Kong leverages Chainlink’s CCIP in the e-HKD pilot project.
- The pilot involves major partners like Visa, ANZ, ChinaAMC, and Fidelity International.
Hong Kong is harnessing Chainlink's innovative Cross-Chain Interoperability Protocol (CCIP) to pioneer cross-border transactions in its latest CBDC pilot, e-HKD. Phase Two of Hong Kong's CBDC program, which began in September 2024, is exploring the interactions between permissioned and permissionless blockchains. Key technology partners in this initiative include Visa, Australia and New Zealand Banking Group (ANZ), ChinaAMC, and Fidelity International.
On June 9, 2025, Cointelegraph reported that Hong Kong's pilot project will specifically simulate a scenario in which an Australian investor aims to purchase a tokenized asset in Hong Kong using a stablecoin pegged to the Australian dollar. Chainlink's CCIP will enable communication across the multiple blockchains involved in routing the transaction, utilizing Ethereum's Sepolia testnet for the study. The purchased asset will be delivered to the investor's wallet, denominated in the e-HKD.
This pilot program is a critical component of Phase Two of Hong Kong’s larger CBDC initiative. The project aims to showcase a reliable method for conducting cross-border digital transactions by merging the control and privacy of permissioned blockchains with the expansive reach of permissionless systems. The results of these studies will be revealed by the end of 2025.
As of June 9, 2025, 19:09 UTC, Chainlink (LINK) is trading at $14.065, with a 1.458% change in 24-hour volume, according to the latest market survey data.