Core Insights - The Hong Kong Monetary Authority (HKMA) has released the second phase report of the "Digital Hong Kong Dollar" pilot program, outlining experimental results and experiences [1][2] - The HKMA plans to continue preparations in policy, legal, and technical aspects for the potential future rollout of the "Digital Hong Kong Dollar" for personal and business use, with completion expected in the first half of 2026 [1] - The demand for the "Digital Hong Kong Dollar" is currently focused outside retail scenarios, with a priority on wholesale applications to facilitate payments among financial institutions [1] Group 1: Pilot Program Results - The second phase included 11 experimental groups covering three major themes: tokenized asset settlement, programmability, and offline payments [1] - Results indicate that the "Digital Hong Kong Dollar" and tokenized deposits can promote cost-effective, programmable, and robust transactions, benefiting users [1] - High public trust in Hong Kong's banking system leads to similar acceptance levels for the "Digital Hong Kong Dollar" and tokenized deposits [1] Group 2: Future Developments - The HKMA will announce a set of shared tokenization standards to promote the widespread application of digital currency programmability [2] - The HKMA president noted that the pilot program has yielded rich results, with the "Digital Hong Kong Dollar" gradually being adopted by financial institutions for more wholesale scenarios [2] - The HKMA is committed to preparing for the potential expansion of the "Digital Hong Kong Dollar" into retail applications in the future [2]