Visa and Chainlink complete CBDC and stablecoin swaps between Hong Kong and Australia.

Gate News bot news, Visa and Chainlink have achieved significant milestones in the e-HKD+ pilot program of the Hong Kong Monetary Authority (HKMA), successfully testing cross-border blockchain transactions using Central Bank Digital Currency (CBDC) and stablecoins.

This experiment was conducted in collaboration with Visa and ANZ (, ChinaAMC ), and Fidelity International (. It is one of the first cases in the real world to simulate programmable currency for cross-border investment in tokenized assets.

The test uses Chainlink's cross-chain interoperability protocol )CCIP( to connect the private blockchain DASChain of Australia and New Zealand Banking Group )ANZ( with the public test network of Ethereum )ETH(.

This enables Australian investors to exchange the Australian Dollar stablecoin )A$DC( for e-HKD, and use digital Hong Kong dollars to purchase tokenized money market funds provided by Hong Kong asset management companies )MMF(.

This process enables near-instant settlement, aiming to eliminate the delay risk associated with traditional cross-border transactions.

Source: CryptoSlate